The National Association of Home Builders (NAHB)/Royal Remodeling Index (RMI) reported a U.S. remodeling confidence index of 70 in the first quarter of 2023, increasing one point from the fourth quarter in 2022, but 13 points below the same period in 2022. The current market conditions indicator dropped two points to 75, while the future indicators index rose two points to 64 from the fourth quarter of 2022.
The Remodeling Market Index (RMI) is based on a quarterly survey of NAHB remodeler members, providing insight into current market conditions and future indicators for the remodeling market. A score over 50 indicates remodelers reporting market activity higher than the previous quarter. See NAHB