Remodeling Confidence Holds Steady in Q4

Window & Door
January 22, 2019
Markets

Graph of Remodeling Market activity Q4 2018

The NAHB Remodeling Market Index posted a score of 57 in the fourth quarter of 2018, only one point lower than the previous quarter. The score has held steady above 50 since the second quarter of 2013, which indicates more remodelers report market activity is higher compared to the prior quarter than report it is lower.

Areas of market concern include rising labor and input costs, according to Joanne Theunissen, CGP, CGR, Remodelers chair for the National Association of Home Builders, as well as “sticker shock” from homeowners who expect lower bids.

“Many of the fundamentals for the remodeling market, including demographics and economic and employment growth, remain favorable,” NAHB chief economist Robert Dietz says. “However, remodelers continue to face challenges in keeping their prices competitive while dealing with the increasing costs of labor and building materials.”