Remodelers continued to enjoy strong demand for their
services in the third quarter, and most expect healthy business activity
throughout the next several months, according to results of the National Association of Home Builders' latest Remodeling Market Index issued today.
The latest RMI is based on a quarterly survey of 434 professional remodelers, whose answers to a series of questions were assigned numerical values to calculate two separate indexes. The first index gauges current
market conditions and is based on remodelers' reports of major and minor additions and alterations, plus maintenance work and repairs, on both owner- and renter-occupied dwellings. The second index gauges expectations for the near future and is based on remodelers' reports of their calls for bids, amount of work committed for the next three months, job backlogs and
appointments for proposals. A variety of "special questions" are also asked
at the end of the survey to help pinpoint market trends.