According to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI), remodeler confidence improved to 59 in the second quarter of 2015. This represents a strong surge in the right direction, especially as the industry had a lot of ground to make up in the wake of a harsh winter that dragged on across much of the country.
An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. Broken down by region, the second quarter RMI was 59 in the Northeast, 61 in the Midwest, 57 in the South and 61 in the West.
Delving further into the data, there seems to be good reason to be hopeful about the immediate future in the construction and remodeling sector. The RMI’s future market conditions index rose to 58 from 55 the previous quarter. Two of its sub-categories—calls for bids and appointments for proposals—gained at least five points from the previous quarter’s reading while there was steady activity for amount of work committed for the next three months and the backlog of jobs.
One area where contractors are likely seeing particular growth and strong interest is in projects involving spray foam. This continues to be a popular choice among both construction professionals and property owners.
Intech Equipment & Supply is the go-to source for any type of spray foam equipment and other construction supplies.