According to the latest Remodeling Market Index (RMI) from the National Association of Home Builders (NAHB) indicators from third and fourth quarter 2013 are holding steady at an historical high of 57 – the highest reading we’ve seen since the first quarter of 2004.
But what does this mean? An RMI above 50 suggests that remodeler confidence is high – more remodelers across the nation are reporting an increase in market activity as opposed to a decrease. The overall RMI combines and averages ratings of current remodeling activity with indicators of future remodeling activity – which include calls for bids, appointments for proposals, backlog of remodeling jobs, and work committed for the next three months.
In a recent press release, NAHB Remodelers Chairman Bill Shaw, GMR, GMB, CGP, said, “The remodeling industry ends 2013 on a high note as remodeler confidence holds steady at a historically high level. We expect to keep this positive momentum going in 2014 as more home owners will continue to take on remodels and repairs that had been postponed in the downturn.”
NAHB Chief Economist David Crowe points to steady existing home sales, favorable interest rates for home buyers and rising home equity as just a few of the reasons behind the rising demand for home remodeling and points to a slow but steady improvement in the remodeling market throughout 2014.
Here at Highlight Homes, we welcome this good news! While our production calendar has remained pleasantly full in recent years, we are excited at the prospect of growing our business to serve even more home owners with our signature brand of luxury renovations and quality custom construction. Our talented design-build team is proud to serve Metro Atlanta residents with renovations projects that include:
- Whole Home Renovations
- Kitchen and Bath Remodels
- Room Additions
- Basement Finishing
- Decks and Porches
- Landscaping and Water Features
- And So Much More!
If you’d like to get on our production calendar for 2014, please call us at 678-873-9234, e-mail us at firstname.lastname@example.org, or fill out our convenient online contact form so we can arrange a no-obligation consultation to discuss your renovation needs. To learn more about our company and the services we offer, please visit us at www.highlighthomesga.com. We look forward to working with you and your family! At Highlight Homes… we don’t just renovate rooms – we create living spaces where you and your family will make memories together for years to come.
Photo credit: Stockvault.net/burki169