Remodeling Business Conditions Growing

Current and future remodeling business conditions continue to show growth, according to National Association of the Remodeling Industry’s (NARI) third-quarter Remodeling Business Pulse (RBP) data.

Quarter-over-quarter increases are evident in nearly all sub-components measuring remodeling activity.

Entering into the holiday season, remodelers are reporting the highest overall rating on business conditions at 6.41, up from 6.31 reported during the second quarter. This rating has steadily increased in the six quarters NARI has been tracking.

“From the comments on the Remodeling Business Pulse survey, pent-up demand continues to drive the current remodeling market,” 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. “The general sense is that consumers are tired of waiting and feel more secure about spending money, which is also reflected in the higher values in jobs sold.”

Growth indicators in the third quarter of 2013 are as follows (rating is from 1 to 9, where 1 is much worse than a year ago and 9 is much better; 5 is about the same as last year):

• Current business conditions was rated 6.41 (from 6.31 last quarter)
• Number of inquiries up was rated 6.55 (from 6.50 from last quarter)
• Requests for bids remained the same as last quarter, at 6.45
• Conversion of bids to jobs was rated 6.00 (from 5.91 last quarter)
• Value of jobs sold was rated 6.31 (from 6.12 from last quarter)

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