According to the National Association of Home Builders’ (NAHB) recent survey of professional remodelers in 2013’s first quarter, conditions in the remodeling market have dropped. The Remodeling Market Index (RMI) that the NAHB derives from the survey dropped six points, while it had been trending up previous to this quarter. The RMI has experienced drastic fluctuations during its upward trend, however, so although the first quarter was a drop, it was still the third highest reading since 2006. It is estimated that the drop in confidence can be contributed to concern over the rising costs of construction materials and labor, as those costs make it harder to meet the prices customers expect.
Read the full article here: Remodelers’ Confidence Dips in the First Quarter