The RMI for owner-occupied units grew from 48.9 in the fourth quarter of 2005 to 53.8, while renter-occupied units fell from 40.4 to 36.7 during the same period. In the futures expectation index, owner-occupied units moved from 50.4 to 53.2 and the renter-occupied component decreased from 37.8 to 30.4 for the first quarter of 2006. Remodeling accounts for 40 percent of all residential construction and improvement spending and almost two percent of the U.S. economy.

The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects. Any number over 50 indicates that the majority remodelers view market conditions as expanding.

?EUR??,,????'??Though the frenzy in home buying is slowing down, the remodeling spending associated with purchasing a home usually lags behind,?EUR??,,????'?? said NAHB Chief Economist Dave Seiders. ?EUR??,,????'??The run-up in home sales during the past five years will fuel remodeling growth for in the next several years, and the long-term growth looks to be solid as well.?EUR??,,????'??