The National Association of Home Builders (NAHB)/Royal Remodeling Index (RMI) reported a U.S. remodeling confidence index of 66 in the fourth quarter of 2022, dropping 11 points from the third quarter and 17 points below the same period in 2021. The current market conditions indicator shrank seven points to 75 and the future indicators index fell 13 points to 58 from the third 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