Current conditions reflect lower growth rates in remodeling industry
NARI reports outlook for business in first three months of 2015 improves
(Des Plaines, Il) The National Association of the Remodeling Industry’s (NARI) released its fourth-quarter Remodeling Business Pulse (RBP) data of current and future remodeling business conditions that continue to point to growth. Currently 67 percent of remodelers nationwide are seeing growth compared to only 15 percent who are reporting declines.
The current conditions rating showed a slight directional decline at 6.31, down from 6.41 in September. (Ratings above 5 indicate growth). This easing comes after two quarters of growth. While the ratings of current conditions all remain positive, marginal decreases in three of the four sub-components reflect lower growth rates. The exception was for ‘sales value of jobs sold’ which had a small increase.
“There has been long term improvement in sales value, which indicates that larger projects are making a comeback,” says Tom O’Grady, CR, CKBR, chairman of NARI’s Strategic Planning & Research Committee and president of O’Grady Builders, based in Drexel Hill, Pa. “Consumers are feeling that the economy will be good for the foreseeable future…”
The National Association of the Remodeling Industry (NARI) is a nationwide network of nearly 6500 member companies and their employees. Consumers may wish to search www.NARI.org to find a qualified NARI professional or call NARI National at (847) 298-9200 and request a free copy of NARI’s brochure, “How to Select a Remodeling Professional.”
To review the research in its entirety, please send your request to [email protected].