After years of robust strength, the US remodeling market has hit a downward trend recently, according to the National Association of Home Builders (NAHB).
The NAHB’s Remodeling Market Index (RMI) has shown six consecutive quarters of declining sentiment amongst remodelers. While the RMI remains in positive territory (50+) across many subsets, most of the sentiment across geographical and project-size subsets has been declining for several quarters.
Possible drivers for declining sentiment include interest rates, the pricing and tight inventory in the US housing market, and overall consumer sentiment on the strength of the US economy, amongst other factors.
Visit NAHB to read the full report:
NAHB Remodeling Market Index