The third quarter National Association of Home Builders (NAHB)/Royal Remodeling Index (RMI) reported a U.S. remodeling confidence index of 65, decreasing three points from the second quarter and down 12 points below the same period in 2022. The current market conditions indicator fell five points to 72 and the future indicators index declined three points to 57 from the second quarter.
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 in the previous quarter. See NAHB