HVAC Breaking News

Dec. 16, 2003: Residential Remodeling Remains Strong In Third Quarter

December 16, 2003
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON - Professional remodelers continued to enjoy strong demand for their services in this year's third quarter, and most expect healthy business activity throughout the next several months, according to results of the National Association of Home Builders' (NAHB's) latest Remodeling Market Index (RMI).

"Low interest rates, rising home values, and strong home sales are definitely contributing to the remodeling fervor among home owners," said NAHB Remodelors' Council Chairman Mike Weiss, CGR. "In addition, the rebounding economy and rising consumer confidence are fueling substantial optimism among remodelers."

Both RMI indexes remained virtually unchanged in this year's third quarter after registering substantial gains in the previous three months. The index gauging current market conditions slipped one-tenth of one point to 53.5, while the index gauging future expectations rose by the same margin to 54.9. However, year-over-year comparisons - which are more appropriate because the RMI is not seasonally adjusted - reveal substantial gains of 3.7 points for current market conditions and 6.7 points for future expectations.

"The year-over-year gains in both indexes hold true for every region across the board, indicating the very broad-based strength of this market," said David Seiders, NAHB's chief economist. "What's more, substantial year-over-year gains are apparent for every single component of the future expectations index - including calls for bids and amount of work committed for the next three months for both owner- and renter-occupied dwellings, plus overall job backlogs and appointments for proposals."

Publication date: 12/15/2003

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

Recent Articles by Greg Mazurkiewicz

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con