WASHINGTON, DC — Residential remodeling made a solid rebound in the first quarter of this year, according to the latest Remodeling Market Index (RMI) released by the National Association of Home Builders (NAHB). Following a slowdown in remodeling activity during the second half of 2001, the NAHB reports that the RMI showed across-the-board gains in all the components that make up the index.
During the first quarter of 2002, the RMI for current market conditions climbed seven points to a 52.7 rating. The RMI for future expectations made a stronger recovery, climbing from 42.8 in the fourth quarter of last year to a 54.6 score in the first quarter.