Metrostudy, the leading provider of market information on housing and residential construction, recently released their second quarter Residential Remodeling Index(RRI) report which details the remodeling and replacement industries activity.
According to the report, the RRI has reached an all-time high of 114.4. This is over 5 percent higher than a year ago at this time and a 1.3% increase from last quarter.
According to Metrostudy News, the RRI has now shown 25 consecutive quarters of gains since 2011. Mark Boud, Chief Economist of Metrostudy, has stated that he expects the remodeling industry to continue strong in 2018 with more growth in 2019.
(Photo by Chris Liverani on Unsplash)
Vincent Salandro of Remodeling & ProSales writes that the RRI is based on a model that includes data pertaining to employment statistics, a market's economic health & household level remodeling permits. Once all the data is collected, the model then predicts the dollar and number amount of home improvement and replacement projects worth at least $1000.
If you're interested in reading more about the report, click here!
Metrostudy Releases Q2 2018 Residential Remodeling Index(RRI) by Markets Insider - https://markets.businessinsider.com/news/stocks/metrostudy-releases-q2-2018-residential-remodeling-index-rri-1027474707
Markets Insider - https://markets.businessinsider.com/
Remodeling Activity Will Continue Its Record Growth in 2018, RRI Finds by Vincent Salandro - http://www.remodeling.hw.net/benchmarks/economic-outlook-rri/remodeling-activity-will-continue-its-record-growth-in-2018-rri-finds_o
Vincent Salandro - http://www.remodeling.hw.net/author/vincent-salandro
Metrostudy Releases Q2 2018 Residential Remodeling Index(RRI) - Good Times Rool for Remodeling Amid Long Streak in Job Growth and Home Equity by Metrostudy News - https://www.metrostudy.com/press/metrostudy-releases-q2-2018-residential-remodeling-index-rri-good-times-roll-remodeling-amid-long-streak-job-growth-home-equity/
Metrostudy News - https://www.metrostudy.com/