The Remodeling Market Index (RMI) held steady at 57 in the fourth quarter of 2013, according to the National Association of Home Builders. This is the same level as the third quarter of 2013 and the highest reading since the first quarter of 2004. An RMI above 50 indicates that more remodelers report market activity is higher (compared with the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.
The Remodeling Market Index (RMI) held steady at 57 in the fourth quarter of 2013, according to the National Association of Home Builders. This is the same level as the third quarter of 2013 and the highest reading since the first quarter of 2004. An RMI above 50 indicates that more remodelers report market activity is higher (compared with the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.
"We expect to keep this positive momentum going in 2014 as more homeowners will continue to take on remodels and repairs that had been postponed in the downturn," NAHB Remodelers Chairman Bill Shaw, a remodeler from Houston, said in a statement.
