Home Remodeling Hits Highest Point Since Q3 of 2005

The National Association of Home Builders reports that its Remodeling Market Index (RMI) rose from 45 in the second quarter to 50 in the third quarter, the highest reading in seven years. Any score over 50 signals that more remodelers report an increase, rather than a decrease, in market activity compared to the previous quarter. “The strength of the RMI, especially in owner-occupied properties, shows that home owners are investing in remodels as home prices stabilize, remarked NAHB Remodelers Chairman George Moore Jr. “As owners become more confident that investments in housing will hold their value, they are beginning to undertake projects to improve their comfort that they had been putting off.” | Read More