Confidence in the home remodeling market fell two points in the second quarter of 2023 compared with the same period last year, according to the National Association of Home Builders Remodeling Market Index.
Sentiment declined to a level of 68 on the index. An index level above 50 indicates more remodelers view conditions as good than poor.
“Demand for remodeling is holding up despite higher prices and borrowing costs,” stated NAHB Remodelers Chair Alan Archuleta. “Customers have largely adjusted to the inflation and delays driven by supply-side challenges.”
“The low inventory of homes on the market, aging housing stock, elevated work-from-home and growing equity owners have in their homes are continuing to support remodeling demand,” added NAHB Chief Economist Robert Dietz.
