Happy Remodeling Month! Yes, May is considered National Remodeling Month and to help celebrate, Atlanta Real Estate Forum will be publishing many remodeling-themed posts throughout the month. Whether you have been longing to completely re-do your kitchen, upgrade your siding, build a new deck or incorporate more green products in your home, now is the perfect time to get started.
Not only is May National Remodeling Month, but conditions of the market are improving. According to the latest National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI), conditions jumped to 47.0 from 36.4 in the fourth quarter of 2009. Future indicators of remodeling business leapt to 48.9 from 31.4 in the last quarter. A new unified measure incorporating both current and future conditions, called the RMI Index, rose to 47.9 from 33.9 in the previous quarter.
The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects. Any number below 50 indicates that more remodelers say market conditions are getting worse than report improving conditions. The RMI has been running below 50 since the final quarter of 2005, but the first quarter 2010 is the best showing since the first quarter of 2006.
You can help contribute to the rebound of the remodeling industry by starting your own project. We surely want to get those RMI numbers above 50 and keep them there! So, don’t procrastinate any longer on your home renovation, and remember to turn to Atlanta Real Estate Forum this May for your source for all things remodeling. We will feature different products, companies, trends and events all tailored to the remodeling industry.