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As editor in chief of Professional Remodeler, a lot of information crosses my desk. This blog will be a chance to share some of that with you, with an immediacy not possible with a monthly magazine. It's also your chance to tell me what you think about what I have to say. Whether you agree or disagree, I hope you won't be shy. Post here, write me at jonathan.sweet@reedbusiness.com or you can also follow me on Twitter at www.twitter.com/sweetedit.
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Thursday, November 5, 2009
NAHB Remodeling Index Improves Slightly, Still Bad
Nov 5 2009 9:30AM | Permalink | Email this | Comments (0) |
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By Jonathan Sweet
A remodeler I talked to last week at the Remodeling Show said, "Things are slowly getting less worse."
That sentiment seems to be echoed by those remodelers that make up NAHB's Remodeling Market Index. The quarterly indicator was up slightly for the third quarter from 39.8 to 38.1 -- still well below the 50 mark that indicates an even market. (Any number below 50 indicates that more remodelers say the market is getting worse than it is improving.) The RMI hasn't topped 50 since 2005.
The "future indicators" index was up to 38.7 from 34.2
Just like the consumer confidence numbers that came out last week, it's another indicator that while we might be slowly turning a corner, there's a long ways to go yet.
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