Remodeling Market Sentiment Edges Down but Remains Positive in First Quarter

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter, posting a reading of 62. While this reading is down two points from the previous quarter, it is still solidly in positive territory. The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The results of the RMI are seasonally adjusted.

“Remodeler sentiment remained generally positive in the first quarter, as it was at the end of last year, even as many remodelers are still working to manage their customers’ cost expectations,” says NAHB Remodelers Chair Elliott Pike, a remodeler from Homewood, Alabama. “Only a relatively small share report homeowners putting projects on hold due to economic and political uncertainty.”