WASHINGTON - Residential remodelers are bullish in their economic outlook for 2004, according to the National Association of Home Builders (NAHB), which has released the latest results of its Remodeling Market Index (RMI). The RMI rose to a record level of 59 for the first quarter of this year, signaling positive impressions of current market conditions as well as expectations for the near future among professionals working in the remodeling industry.
"When the RMI moves above 50, it tells you that the industry is very healthy, and right now we are at 59," said NAHB Remodelors Council Chairman Douglas Sutton Sr., CGR, CAPS, a remodeler in Springfield, Ill. "Not only have we recorded the strongest first-quarter index rating in four years, but across the country we are also seeing record numbers of calls for bids and reports of backlogs that will keep us busy throughout the year."