Remodeling Market Poised for Growth Following Harsh Winter

Window & Door
April 22, 2014
First-quarter 2014 Remodeling Business Pulse data from the National Association of the Remodeling Industry shows current condition ratings fell significantly in March, dropping to 6.07 from 6.41 in December, NARI reports. 
"The harsh winter seemed to have played a role in the decline of our numbers this quarter," says Tom O'Grady, chairman of NARI's Strategic Planning Committee.
Strength of sales, however, increased to 6.51, from the 6.41 reported during the fourth quarter of 2013.  And despite the low ratings for current business conditions, remodelers are more optimistic about the future, heading into their busy season, according to NARI. The outlook for business three months out reached a new all-time high of 6.51, from 6.41 in December 2013.
NARI asked remodelers what is driving growth. According to the report, activity is being driven by several factors:
  • Postponed projects continue to be the No. 1 factor in remodeling business growth, at 81 percent, up from 75 percent in December.
  • Improving home prices was at 59 percent, down from 61 percent in December.
  • More certainty about the future moved into the No. 3 spot, at 39 percent.