Remodeling Market Sentiment Softened in 3Q but Remains Positive
The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter, posting a reading of 77, declining 10 points compared to the third quarter of 2021.
“Remodelers in many parts of the country remain positive about the market,” said NAHB Remodelers Chair Kurt Clason, a remodeler from Ossipee, N.H. “In some areas, however, a growing number are seeing signs of a slowdown due to the ongoing problems of labor shortages, high material prices and rising interest rates.”