Dive summary:
- An index of how business is going for remodeling contractors is up for the first quarter of the year, and several business indicators are rising, the The National Association of the Remodeling Industry reports.
- Remodelers report that conditions have been going up for the past year, and the organization's Remodeling Business Pulse was at 5.97 compared with 5.59 a year earlier.
- Backlogs are building and remodelers tell the organization that inquiries are up 4.9% from the fourth quarter of 2012 while bid requests are up 5.2% in the same period.
From the article:
“Homeowners are tired of waiting to make improvements – many have chosen to stay put – and better financial positioning has them actively approaching professionals to get work done and enhance long-term livability of the home,” [Tom] O’Grady [chairman of NARI’s Strategic Planning & Research Committee ] says.