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Remodelers see Slowdown Ahead
Friday, April 22, 2016
Members of the National Association of Home Builders' (NAHB) remodeling division reported that market conditions remained about the same in the first quarter of 2016 as in the last quarter of 2015. However, indicators of future work did bring NAHB's Remodeling Market Index (RMI) down one point to 54. This keeps the index above the breakeven point of 50, which signals that more remodelers report in NAHB's regular survey that market activity is higher (compared to the prior quarter) than report it is lower.
There are two components to the RMI, the first one measuring builder perceptions of current market conditions. Internal to that are questions about various types of remodeling projects. The subcomponent on major additions and alternations increased one point to 55; minor additions and alterations dropped two points to 54 and maintenance and repairs were at 56, also down two points. These combined to reduce the current conditions index by one point to 55.
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