Despite supply chain issues, remodeling demand remained strong in the fourth quarter of 2021, according to the latest NAHB/Royal Building Products RMI…(NAHB)
- Demand fell 4 points to 83 in the fourth quarter of 2021 however it is 4 points above Q4 2020.
- A score of 50 is seen as the break-even point.
Small remodeling projects continue to see the most confidence with an index holding steady at 91 in the fourth quarter…
- Moderately sized projects saw a one-point drop to 91 and large projects were also down one-point 89.
Feelings about the future saw a big decline with a seven-point drop to 77 to end 2021, this is still higher than the 72 reported in Q4 of 2020.
Paul Emrath, NAHB Assistant Vice President for Surveys and Housing Policy Research, notes rates and equity make remodeling an attractive proposal even with supply-chain issues…
- “Higher home equity and historically low interest rates provided resources for home owners to improve their existing homes, helping to support the high demand for remodeling projects,”
