The Remodeling Market Index recorded a reading of 57 in the third quarter, an increase of four points compared with the second quarter and a return to levels seen throughout 2015, according to the National Association of Home Builders.
The Remodeling Market Index recorded a reading of 57 in the third quarter, an increase of four points compared with the second quarter and a return to levels seen throughout 2015, according to the National Association of Home Builders.
The RMI is an average of current and future market components, both of which increased in the third quarter compared with the second quarter. Current market conditions rose two points to 56, while future market indicators increased by five points to 58.
“The Remodeling Market Index is consistent with NAHB’s forecast of gradual and steady improvements in residential remodeling activity,” said NAHB Chief Economist Robert Dietz in a statement. “This segment of our industry is being supported by rising home values and steady consumer confidence.”