The National Association of Home Builders’ Remodeling Market Index in the third quarter posted a reading of 57, up two points from the second quarter.
The RMI is an average of current and future remodeling activity indicators: current marketing conditions increased one point to 56, while future marketing indicators rose three points to 58.
"Remodelers are seeing higher demand in residential repairs and expect to be busy well into the new year with jumps in work backlog, call for bids and proposal appointments, likely due in part to the significant damage caused by hurricanes across the southern states," said NAHB Remodelers Chairman Dan Bawden in a statement. "However, the ongoing labor shortage is constraining how quickly the repairs can be completed."
