Remodeler Optimism Stronger Than Ever During First QuarterApril 24th, 2013 | Category: Industry News
The National Association of the Remodeling Industry’s (NARI) first-quarter Remodeling Business Pulse (RBP) data of current and future remodeling business conditions is reaching new heights, as quarter-over-quarter increases are seen across all sub-components many have a backlog of projects well into the fall.
As remodelers approach the busy season, overall current business conditions have seen steady increases since March 2012, now at a statistically significant 5.97 rating compared with the 5.59 rating from one year before.
Growth indicators in the first quarter of 2013 are as follows:
- Current business conditions up 1.0 percent since last quarter;
- Number of inquiries up 4.9 percent since last quarter;
- Requests for bids up 5.2 percent since last quarter;
- Conversion of bids to jobs up 1.1 percent since last quarter; and
- Value of jobs sold is up 0.2 percent since last quarter.
Sharp increases in the number of inquiries and requests for bids point speak directly to an increase in consumer confidence, especially in housing, according to the association.