Industry News

Real estate remodeling strong in 2nd quarter

Midwest sees slowdown
Published on Aug 23, 2005

Remodeling activity continued to grow in the second quarter of 2005, according to the National Association of Home Builders' Remodeling Market Index. Today's second-quarter results were slightly below the seasonally adjusted first quarter of 2005 but remained in the positive-growth range. "The high rates of home sales and home-price appreciation are helping fuel strong remodeling activity," said Remodelors Council Chairman Don Novak, a remodeler from Cedar Rapids, Iowa. "Though we saw little change overall, the RMI still shows above-average activity for the past quarter and this will continue into the third." The RMI is derived from a quarterly national survey of more than 500 remodelers and is seasonally adjusted. The current market conditions index dropped one half a point from 52.9 to 52.4. The future expectations index also moved down from 53.6 to 52.8. Both indexes continue to show above-normal activity. Regionally, strong readings in the Northeast, South and West were partia...

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