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Remodeling market indicator remains in positive territory

Jul 21, 2017
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 55 in the second quarter of 2017, down three points from the first quarter. For 17 consecutive quarters, the RMI has been at or above 50, which indicates that more remodelers report market activity is higher than report it is lower. 

“While remodelers continue to see robust demand across the country, the lack of skilled labor continues to be a serious issue,” said NAHB Remodelers Chairman Dan Bawden. “Remodelers are finding they have to decline projects because they can’t hire enough skilled staff to keep up with the demand.”

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Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.