U.S. Remodeling Growth Slows
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) for the fourth quarter of 2016 fell 4 points from the previous quarter to 53.
The RMI’s current market conditions index fell 3 points to 53, major additions and alterations dropped 1 point to 53, small remodeling projects declined 4 points to 52, and the home maintenance and repair component decreased 5 points to 54. The future market indicator was down 6 points to 52.
An RMI above 50 indicates that more remodelers report market activity is higher, over the previous quarter, than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. See NAHB