Residential remodeling activity rose during the second quarter of 2009, according to NAHB’s Remodeling Market Index, which measures remodeled perceptions of market demand for current and future residential remodeling projects. Indicators for future expectations and current market conditions rose nearly four points during the quarter.
NAHB chief economist David Crowe says conditions have returned to near the levels of this time a year ago. “While remodelers remain cautious, they report business is looking a little better after several challenging quarters. The uptick in the expectations component suggests this trend will continue as the entire housing market begins its recovery,” Crowe says