The National Association of Home Builders (NAHB)/Royal Building Products Remodeling Market Index (RMI) recently released the fourth quarter reading which holds at 83 points. The mark is up four points from the fourth quarter in 2020 which shows that residential remodeler confidence is up.

 
This survey asks remodelers to rate five parts of the remodeling market under good, fair, or poor and each question is measured on a scale from 0 to 100, with an index above 50 indicating conditions as good.

"Higher home equity provided resources for homeowners to improve their existing homes, supporting high demand for remodeling," said NAHB Remodelers Chair Steve Cunningham, CAPS, CGP, a remodeler from Williamsburg, Virginia, "Many remodelers are completely booked well into the future; however, supply chain problems continue to delay projects and make it difficult to work off the backlog."

The Current Conditions Index is an average of three components including current market for large remodeling projects, moderately sized projects, and small projects. Currently, the index averaged 89 points, a four-point increase from the fourth quarter of 2020. Components all posted increases compared to the fourth quarter of last year, large remodeling projects of $50,000 or more, climbed seven points to 85 points. Moderately sized remodeling projects, at least $20,000 but under $50,000, rose two points to 90 points and small remodeling projects, under $20,000, increased two points to 91 points.

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