Remodeling activity slowed slightly in the fourth quarter of 2004, as the year ended with unusually wet weather, according to the National Association of Home Builders Remodeling Market Index (RMI). The fourth-quarter results fell one point behind the seasonally adjusted third quarter of 2004. "Although the RMI is seasonally adjusted, we still can't always predict the weather," said Remodelors Council Chairman Don Novak, a remodeler from Cedar Rapids, Iowa. "The interest rates are still good, and remodelers are looking forward to a rebound in the spring." The RMI is derived from a quarterly national survey of 500 remodelers. The current market conditions index fell one point, from 51.8 last quarter to 50.7. The future expectations index moved ahead from 52.4 to 54. Regionally, curre...
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