The Remodeling Market Index (RMI) for the second quarter of 2024 was at 65, down one point from the previous quarter.
“The RMI remains solidly in positive territory, and NAHB continues to project remodeling activity has stabilized at a healthy level in 2024,” National Association of Home Builders Chief Economist Robert Dietz said in a statement. “Some homeowners may be tempted to delay projects waiting for interest rates to decline, but this is offset by others who want to work with a remodeler now, fearing inflation may increase project costs if they wait.”
The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as "good," "fair" or "poor." Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor.
The full RMI report can be found here.
