Industry News

Home remodeling activity improves

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Home remodeling activity crept up in the third quarter after sinking to its lowest level in four years in the second quarter, according to an index report released today by the National Association of Home Builders. The Remodeling Market Index measures remodeler perceptions of market demand for current and future residential remodeling projects. The index for current market conditions increased from 44.8 in the second quarter to 46.2 in the third quarter, but was down compared to an index score of 47.8 in third-quarter 2006. An index score of less than 50 indicates that most remodelers view market conditions as declining, while a score greater than 50 indicates that most view market conditions as improving. The third-quarter index score for current market conditions was the lowest for that quarter since third-quarter 2001. The index score for future remodeling expectations declined in the third quarter to 43.3 compared to 44.1 in the second quarter and 45.4 in third-quarter 2...