The Remodeling Market Index in the first quarter of 2015 was 57, a decrease from 60 in the last quarter of 2014, according to the National Association of Home Builders.
The RMI in the Northeast was 59 in the first quarter 2015 compared with 61 last quarter. In the Midwest, the RMI decreased to 54 from 60. The RMI decreased one point in the South to 56 and three points in the West to 62.
An RMI above 50 means more remodelers report market activity is higher compared with the last quarter than report it is lower.
"Remodelers remain positive about the gradual pace of market improvement, but that confidence was tempered by a severe winter and continued labor shortages," said NAHB Remodelers Chair Robert Criner in a statement. "Clients continued to call for consultations for home remodeling jobs at the beginning of 2015."
