Remodelers remained positive about the pace of market improvement in the first quarter of 2015, though that confidence was tempered by a severe winter and continued labor shortages, according to the National Association of Home Builders.
The NAHB’s Remodeling Market Index dropped to 57 in the first quarter of 2015 from a historically high reading of 60 in the fourth quarter of 2014.
Despite the decrease, the index’s latest reading indicates that business conditions for remodelers were still favorable in the first quarter.
A reading above 50 indicates that more remodelers report that market activity is higher (compared to the previous quarter) than report that it’s lower.
NAHB: Remodelers Confident in Gradual Market Improvement