Remodeling activity rises in first quarter of 2006; homeowner projects fuel growth
According to the National Association of Home Builders' Remodeling Market Index (RMI), remodeling activity grew in the first quarter of 2006. The current market conditions index rose from 46.6 to 48.1, while the future expectations index moved from 47.5 to 48.9.
The index measures remodelers' perceptions of the market for current and future projects. According to the NAHB, any number above 50 in the index points toward a majority of remodelers believing that the market is expanding.