Despite a three point drop to a score of 55, the NAHB Remodeling Market Indicator remained positive in the second quarter.
The RMI has been above 50 for 17 consecutive quarters. An indicator of 50 or higher signifies that more remodelers believe market activity has improved from the previous time period. The RMI factors in both current market conditions and future market indicators, both of which were 55 in Q2.
Although market activity has been strong, remodelers face continuing challenges, particularly with the cost and availability of labor. In this quarter’s survey, 84 percent of respondents reported that the cost/availability of labor is one of the most significant challenges they face.
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