Manufacturing Industry
RMI drops below benchmark.(ViewPoint: MarketWatch)
Remodeling, April, 2006 by Alfano, Hayden
The final Remodeling Market Index (RMI) of 2005 showed a slowdown in the fourth quarter. The year as a whole was positive--though somewhat below the level of 2004.
According to a press release from the National Association of Home Builders (NAHB), which publishes the RMI, the current market conditions portion of the index dropped from 50.9 to 46.6 nationally. And the future expectations index--which measures remodelers' opinions of the upcoming quarter--slid to 47.5. Anything over 50 is considered a positive sign.
The reasons given for the decreases should be familiar by now. "The rise in interest rates has slowed homeowner refinancing, [which is] often used to fund remodeling projects," Vince Butler, chairman of NAHB's Remodelors Council, said in...
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