Home Owners Pull Back on Remodeling Work

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Posted To: MND NewsWire

The National Association of Home Builders (NAHB) is seeing some softening in the residential remodeling sector. Carmel Ford noted in an article in NAHB's Eye on Housing blog several weeks ago that the association's Remodeling Market Index (RMI) fell three points to 54 in the first quarter of this year. The index is constructed in a manner similar to NAHB's Housing Market Index, but from a survey of remodelers rather than new home builders and has a breakeven point of 50. At that level more remodels report market activity is higher than report it lower than the previous quarter. The RMI has been above that breakeven point since the second quarter of 2013. This week another entry in the blog, this one written by Na Zhao, takes data from the U.S. Census Bureau's Construction Spending Report to...(read more)

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Source: http://www.mortgagen...

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