U.S. remodeling confidence in the second quarter of 2022 decreased nine points from the previous three months to 77 and dropped 10 points from same period in 2021, according to the National Association of Home Builders’ (NAHB)/Royal Building Products Remodeling Market Index (RMI). This marks the greatest year-over-year decline since the first quarter of 2020. The current market conditions indicator shrank six points to 83 while the future indicators index fell 10 points to 72 from the first quarter of 2022.
The Remodeling Market Index (RMI) is based on a quarterly survey of NAHB remodeler members providing insight on 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 National Association of Home Builders