Encouraging numbers are being reported by the National Association of Home Builders’ Remodeling Market Index. For the first quarter of 2010, the index rose to 47.9, up from 33.9 in the previous quarter and reflects the highest level since the first quarter of 2006.
While a number below 50 indicates that remodelers see overall market conditions as poor, this gain suggests that the industry is seeing growth after several years of decline. Further data supports this potential trend:
- Calls for bids rose from 37.5 to 56.3
- Appointments for proposals up from 34.4 to 59.2
- Work committed for the next three months rose from 21.9 to 33.0
- Backlog of remodeling jobs at 47.2, up from 31.9
