Remodeler confidence moved up one point during the second quarter of 2018 to a reading of 58 on the National Association of Home Builders’ Remodeling Market Index.
The reading indicates remodelers are seeing slightly higher market activity.
“Remodelers across the country continue to see demand,” NAHB Remodelers Chair Joanne Theunissen said in a statement. “However, the rising cost of materials is impeding the market’s ability to be even stronger.”
NAHB Chief Economist Robert Dietz said that the ongoing labor shortage is also a contributing factor to an increasing backlog of remodeling jobs.
“Remodelers have to deal with rising material prices, especially lumber, and the continued shortage of labor to keep prices competitive,” Dietz said in a statement.
Remodeling Market Index readings above 50 indicate a positive market. The Index reading has been above 50 since the second quarter of 2013.
