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Home remodeling grows at brisk pace in Q2.

WASHINGTON -- Remodeling activity continued to grow in the second quarter of 2005, according to the National Association of Home Builders' Remodeling Market Index (RMI). The second quarter results were slightly below the seasonally adjusted first quarter of 2005, but remained in the positive growth range.

"The high rates of homes sales and home price appreciation are helping fuel strong remodeling activity," said Remodelers Council Chairman Don Novak, a remodeler from Cedar Rapids, IA. "Though we saw little change overall, the RMI still shows above-average activity for the past quarter and this will continue into the third."

The RMI is derived from a quarterly national survey of more than 500 remodelers and is seasonally adjusted.

The current market conditions index dropped 0.5 point from 52.9 to 52.4. The future expectations index also moved down, from 53.6 to 52.8. However, both indexes continue to show above normal activity, according to the NAHB.

Regionally, strong readings in the Northeast, South and West were partially offset by a sub-par reading for the Midwest.
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Title Annotation:TRENDS & NEWS
Publication:Wood & Wood Products
Date:Sep 1, 2005
Words:174
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