• The National Association of Home Builders reports that its Remodeling Market Index – combining remodelers' views on how business and how it will be – came in at 45 for the second quarter of this year, down two points from the first three months of the year.
• NAHB asks member remodelers about current business and their estimate of future business based on factors such as requests for quotes. A combined number of 50 in the index means as many remodelers think business is better than the previous quarter as think it is down.
• The best index since the recession began was 48, which it reached twice in 2011. It has not been above there since 2006.

From the release:

The second quarter results of the Remodeling Market Index (RMI) slipped under pressure from a softening labor market, according to the National Association of Home Builders (NAHB), dropping two points to 45. The downward adjustment comes after the RMI reached 48 twice in 2011, the highest reading since 2006. ...