Remodelers lower expectations but anticipate growth - MultiBriefs Exclusive

Remodelers have lowered their expectations but do anticipate growth in the future. In the third quarter of 2019, remodeling went down a bit but many remodelers believe that in quarter four it will rebound. In simplest terms, there just aren't many remodeling projects going around right now and remodelers have now had to scale back their expectations because of this. Remodeling will always be in business because people always need to keep their houses modernized, but this may be a continual trend in the future.

Key Takeaways:

Workers in the remodeling industry state that business has been on a slight downturn compared to previous quarters and years.
Expectations have been scaled back due to factors such as a slow market for home sales, and completions of homes under construction.
Even though demand for remodeling is expected to fall overall, there are still parts of the country with strong housing markets, home sales and renovation industries.

“The National Association of Home Builders (NAHB) stated its Remodeling Market Index (RMI) posted a reading of 55 (indicating modest growth) for the third quarter, the same reading as for the second quarter.”