Remodelers busy as home prices rise
As home prices rise, remodelers are feeling optimistic about the home improvement market, the National Association of Home Builders reported.
“Not only do remodelers have projects booked for the next few months, but they also have more work coming in the door,” said Bill Shaw, NAHB remodelers’ chairman.
The second quarter Remodeling Market Index (RMI) rose six points to 55. An RMI above 50 indicates that more remodelers are reporting higher market activity, according to NAHB.
“Rising home prices are making remodeling jobs possible for more homeowners while existing home sales provide additional momentum as owners prepare their homes for market,” said David Crowe, NAHB chief economist.