Remodeling sentiment remained relatively positive in the second quarter as strong demand buoyed the market despite higher prices and borrowing costs, according to the National Association of Home Builders (NAHB). The NAHB Market Remodeling Index (RMI) posted a reading of 68 in the second quarter, down 2 points from the first quarter. However, the overall index remained positive, thanks to the increase in the current conditions index (the average of three components: the current market for large remodeling projects, medium-sized projects, and small projects). The current conditions index rose 2 points quarter-on-quarter, to 77. Two of the three components also increased: the component measuring large remodeling projects ($50,000 or more) rose 1 point to 72, and the component measuring small remodeling projects ($20,000 or less). ) by four points, to 81. The component measuring medium-sized remodeling projects ($20,000 minimum but less than $50,000) fell by one point, to 77.
