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Remodelers optimistic in rise of bids

 
FROM STAFF REPORTS | Published: June 6, 2009    Comment on this article Leave a comment

The residential remodeling market showed signs of improvement during the first quarter of 2009 with significant growth in all indicators, according to the latest National Association of Home Builders’ Remodeling Market Index.

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The current market conditions measure rose to 34.5 from 25.5 in the fourth quarter of 2008. Future expectations jumped to 30 from a historic low of 18.6 the previous quarter.

Signing still challenge
The index measures remodeler perceptions of market demand for current and future residential remodeling projects. Any number over 50 indicates that the majority of remodelers view market conditions as improving.

The index has been running below 50 since the final quarter of 2005, following decreasing remodeling expenditures since that time.

"Remodelers are starting to receive more calls for bids and requests for proposals, although getting customers to sign for a job continues to remain a challenge,” said Greg Miedema, chairman of NAHB Remodelers and a remodeler from Tucson, Ariz.

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Related Topics: Culture and Lifestyle, Home Remodeling, House and Home



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