Remodeler confidence remains upbeat

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Remodeler confidence improved in the second quarter as the country sprang back from a severe winter, according to the National Association of Home Builders’ Remodeling Market Index.

The overall index rose to 59 in the latest quarter, up from 57 in the first three months of 2015. The index tracks remodelers’ reports on current market conditions with indicators of future growth. A level at 50 is neither positive nor negative.

The subsector of major additions gained steam, rising to 57 from 54 in the first quarter, while the category of small remodeling jobs jumped to 61 from 56.  Future market conditions rose to 58 from 55, while two of its subcomponents—calls for bids and appointments for proposals—gained five or more points from the previous quarter’s reading. The amount of work committed for the next three months and the backlog of jobs remained steady.

“The confidence in the remodeling industry has been in positive territory for nine quarters in a row as the entire housing industry’s situation continues to improve,” said NAHB Remodelers Chair Robert Criner. “With an increase in existing-home sales, remodelers received more signed contracts and calls for pricing.”