In the fourth quarter of 2023, the National Association of Home Builders (NAHB)/Westlake Royal Remodeling Index (RMI) reported a U.S. remodeling confidence index of 67, improving two points from Q3 but down two points compared to the same period in 2022. The current market conditions indicator rose two points to 74, and the future indicators index also gained two points to 59 from the third 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 report market activity higher than in the previous quarter. See NAHB