From our sister magazine Remodeling:
Remodeling and replacement activity nationwide continued its slow, steady growth pattern in 2015’s fourth quarter, according to Metrostudy’s latest Residential Remodeling Index (RRI). (Note: Our parent company, Hanley Wood, also owns Metrostudy.) The latest update to RRI calculates that the economic conditions known to lead to remodeling work were 5.4 percent better than in the fourth quarter of 2014 and 0.9 pecent above where things stood in the third quarter of last year.
The national RRI reached 103.1, which means the index of activity now stands 3.1 percent above where it was during the first-quarter of 2007, a time when—until recently—remodeling was at its most prosperous time ever. The RRI hasn’t shown a year-over-year decline since the first three months of 2012 and a quarter-to-quarter decline since the fall of 2011. Metrostudy predicts future quarters to 2018 will post year-over-year gains ranging from 2.0 percent to 4.1 percent, while quarter-to-quarter rises will range from 0.5 percent to 0.9 percent.
Read the rest of the story on Remodeling.