WASHINGTON, D.C. (PRWEB) February 13, 2015
Metrostudy, a Hanley Wood company, announced today the release of its fourth quarter 2014 Residential Remodeling Index (RRI) detailing activity in the remodeling and replacement industry.
The fourth quarter national composite of the RRI registered a score of 97.2, representing a 3.1% year-over-year increase on a seasonally adjusted basis, which beat a revised third quarter year-over-year gain of 3.0%. The RRI has now posted eleven consecutive quarters of positive year-over-year gains since the market bottomed out at the end of 2011.
The RRI also saw a 1.1% increase over third quarters revised result of 96.1, marking the 12th consecutive rise in the index and clearly confirming the growth in remodeling activity over the second half of 2014. With demand fundamentals also firming across the country at the close of the year, particularly in employment growth, projected growth rates in the RRI for the next few quarters have strengthened. As a result, the previous forecast for the remodeling market to reach full recovery (a reading of 100.0 or more) by third quarter 2015 remains intact.
The remodeling index saw a welcomed bounce in fourth quarter 2014, closing out a year where growth, while still in the positive, was slower than what was recorded in 2013. This trend mirrored the overall movement in home buying during the last two years, where purchasing in 2013 spiked off of previous depths, and 2014 cooled off of those spikes. The 2014 market saw the absence of first-time homebuyers and a retreat of investment buyers, leaving a slight dent in the overall measure of remodeling, says Brad Hunter, Chief Economist of Metrostudy. However, a job market that has begun to heat up and recent increases in consumer confidence support our expectation that 2015 will see stronger gains in remodeling activity, as well as full recovery by third quarter 2015. Wage growth rebounded in January, and if increases can stay consistent for a while, it would bode well for the younger generation of potential homebuyers to enter the market. Additionally, current and future remodeling opportunities are ripe amongst baby-boomers.
Metrostudy produces the RRI to provide the industry visibility into local market remodeling activity, forecasted future activity, and potential demand. According to the companys fourth quarter report, all 381 Metropolitan Statistical Areas are expected to see year-over-year growth in remodeling and replacement projects in 2015, with average growth of 4%.
Request a full copy of the report by contacting Danielle Fiore at dfiore(at)metrostudy(dot)com.
About the Residential Remodeling Index The RRI is a quarterly measure of the level of remodeling activity in 381 metropolitan statistical areas (MSA) in the U.S., with the national composite reflecting the national level of activity. Activity includes home improvement and replacement projects, but does not include maintenance or projects of less than $1000. The seasonally adjusted index shows the relative level of activity in the geography specified (MSA or national composite) compared to 2007 (the baseline year). A number above 100 indicates a level of remodeling activity higher than the level of activity at the beginning of 2007, which was the peak of remodeling activity in the prior decade.
The index is produced through a statistical model that leverages detailed data on remodeling activity, including household level remodeling permits, and consumer-reported remodeling and replacement projects. Quarterly historical results for the national composite and for each of the 381 Metropolitan Statistical Areas in the U.S. are available back to 2004. In addition, Metrostudy also produces annual estimates of project counts and expenditures as well as forecasts of the quarterly RRI and annual projects and expenditures.
About Metrostudy Metrostudy, a Hanley Wood company, is the largest provider of comprehensive research and insight for the real estate industry. Builders, developers, banks, manufacturers, retailers and many other industries all rely on Metrostudy's data and analytics to support strategic business decisions at the local, regional and national market level. http://www.Metrostudy.com
See the original post:
Metrostudy Releases Q4 2014 Residential Remodeling Index (RRI)Momentum Brews at the Close of 2014, 2015 Expectations ...
- WEDNESDAY, APRIL 17, 2024 Ad - Mt Pleasant Window & Remodeling Co - Tribune-Review - TribLIVE.com - April 17th, 2024 [April 17th, 2024]
- Experimental and theoretical model of microvascular network remodeling and blood flow redistribution following ... - Nature.com - April 17th, 2024 [April 17th, 2024]
- New Housing Starts Plunge in March, Remodeling Sentiment Remains Positive - CE Pro - April 17th, 2024 [April 17th, 2024]
- Power Home Remodeling Grabs 14th Spot on Fortune '100 Best Companies to Work For' - Roofing Contractor - April 17th, 2024 [April 17th, 2024]
- Monterrey Airport remodeling to be ready in one month - MEXICONOW - April 17th, 2024 [April 17th, 2024]
- County proceeds with plans to remodel school for government offices - The Augusta Chronicle - April 17th, 2024 [April 17th, 2024]
- Remodeling Market Sentiment Remains in Positive Territory in First Quarter - National Association of Home Builders - April 17th, 2024 [April 17th, 2024]
- Chick-fil-A in Mt. Juliet to temporarily close tor remodel work. When and for how long? - Tennessean - January 5th, 2024 [January 5th, 2024]
- Adobe Resort in Yachats kicks its $2 million remodel into high gear with lobby, bar, restaurant and room changes ... - Yachats News - January 5th, 2024 [January 5th, 2024]
- Roofers In Blue Ash, Ohio, Crown Pointe Roofing & Remodeling Announces Expansion To Kentwood - Yahoo Finance - January 5th, 2024 [January 5th, 2024]
- Main Street Threads in Vermilion to undergo remodeling in January - The Morning Journal - January 5th, 2024 [January 5th, 2024]
- Smithfield Burger King looks to remodel - Smithfield Times - Smithfield Times - January 5th, 2024 [January 5th, 2024]
- BCA Launches Public Campaign with Plans to Remodel the Second Floor | Prairie Communications, LLC - Radio Monmouth, IL - January 5th, 2024 [January 5th, 2024]
- Contractor starts repayments to Kodak couple 7 years after unfinished remodel - WATE 6 On Your Side - January 5th, 2024 [January 5th, 2024]
- Design approved for alternative school remodel | The Humboldt Independent - The Humboldt Independent | - January 5th, 2024 [January 5th, 2024]
- Police Department remodel awarded to Evergreen Construction | Free | emporiagazette.com - Emporia Gazette - January 5th, 2024 [January 5th, 2024]
- Warner Grand Theatre in San Pedro to Close Jan. 1 for Remodeling - MyNewsLA.com - January 5th, 2024 [January 5th, 2024]
- Dougherty County Tax and Tag Office set to begin renovations - WALB - January 5th, 2024 [January 5th, 2024]
- Assessment of Right Heart Remodeling Post PVR in Patients with Pulmonary Atresia or Critical Stenosis and IVS - Physician's Weekly - January 5th, 2024 [January 5th, 2024]
- Seven steps to save money on remodel - Akron Leader Publications - October 11th, 2021 [October 11th, 2021]
- This Schnucks location just got a makeover, with new dining hall and apparel store - KSDK.com - October 11th, 2021 [October 11th, 2021]
- MH issues 15 building permits in August - The Baxter Bulletin - October 11th, 2021 [October 11th, 2021]
- Rotating House by Self-Taught Inventor Is Awesome, a Testament of Love - autoevolution - October 11th, 2021 [October 11th, 2021]
- Herkimer Housing Authority, now Stone Ridge Residences, completes first phase of project - The Times Telegram - October 11th, 2021 [October 11th, 2021]
- How Broad Ripple's vibe was reflected in the design of HGTV's 'Urban Oasis' home - IndyStar - October 11th, 2021 [October 11th, 2021]
- NYC Kitchen Trends in Line with National Trends in 2021 - PR Web - October 11th, 2021 [October 11th, 2021]
- GE Appliance employees giving back to Louisville with year of community service - WLKY Louisville - October 11th, 2021 [October 11th, 2021]
- 11 crucial tips for your next home renovation makeover - AZ Big Media - October 11th, 2021 [October 11th, 2021]
- 2050-year-old Roman tomb offers insights on ancient concrete resilience - MIT News - October 11th, 2021 [October 11th, 2021]
- Harvard study shows metro areas with expected remodeling growth - LBM Journal - February 20th, 2021 [February 20th, 2021]
- U.S. Remodeling Industry Fully Recovered From COVID Outbreak - World Property Journal - February 20th, 2021 [February 20th, 2021]
- Jasco Products gets a $3.8-million remodel, and more Oklahoma City building permits from The Oklahoman for Feb. 20, 2021 - Oklahoman.com - February 20th, 2021 [February 20th, 2021]
- United States Commercial Windows Market Report 2020-2027: Renovation and Remodeling Activities of Existing Structures are Expected to Drive the Market... - February 20th, 2021 [February 20th, 2021]
- Outlet Recreation is opening a second store in Detroit Lakes - Detroit Lakes Tribune - February 20th, 2021 [February 20th, 2021]
- Blast from the Past / 1967: The finishing touches on a remodel - Lewiston Morning Tribune - February 20th, 2021 [February 20th, 2021]
- U.S. Home Remodeling Market to 2026 - Developments Strategies and Regional insights - Technology Magazine - February 20th, 2021 [February 20th, 2021]
- Titus ONeil helps remodel East Tampa grandmothers home, surprises her with new car - WFLA - February 20th, 2021 [February 20th, 2021]
- Home Improvement Spending is Projected to Grow in 2021 - The MReport - February 20th, 2021 [February 20th, 2021]
- So, the pandemic has you looking to improve your home. How do you pay for it? - Oklahoman.com - February 20th, 2021 [February 20th, 2021]
- Man Arrested After Claiming to be a Contractor and Allegedly Botching Remodel - Coral Springs Talk - Coral Springs Talk - January 20th, 2021 [January 20th, 2021]
- Budget team votes in favor of $800000 quad remodel - La Voz Weekly - January 20th, 2021 [January 20th, 2021]
- Home Remodeling Market Size to Observe Strong Growth with Key Drivers and Top Trends by 2026 - Jumbo News - January 20th, 2021 [January 20th, 2021]
- PHOTO REPORT: Universal Orlando Resort 1/13/21 (Remodeling of Ben &Jerry's Ice Cream Shop, More Walls in Jurassic Park, Low Wait Times, and More) -... - January 15th, 2021 [January 15th, 2021]
- House Flippers And Real Estate Agents Are Going Viral On TikTok - BuzzFeed News - January 15th, 2021 [January 15th, 2021]
- Reno of the Month: 5 Tips for Finding a Home Remodeler in Reston - Reston Now - January 15th, 2021 [January 15th, 2021]
- Working from Home is the New Norm: Time for a Home Office - Signals AZ - January 15th, 2021 [January 15th, 2021]
- A&K Remodeling & Turnkey Offers Aging in Place Bathroom Renovation in Houston, Texas - Press Release - Digital Journal - January 15th, 2021 [January 15th, 2021]
- A&K Remodeling & Turnkey Is the Place for Kitchen Renovation in Houston, Texas - Press Release - Digital Journal - January 15th, 2021 [January 15th, 2021]
- Ethics Commission: Hubbardston officer used deception to drive work to remodeling business - Worcester Telegram - January 15th, 2021 [January 15th, 2021]
- Scottsbluff moving to remodel all elementary schools, Roosevelt first on the list - Scottsbluff Star Herald - January 15th, 2021 [January 15th, 2021]
- Madrid gives up the machinery it uses in the remodeling of the Bernabu to remove snow - Sportsfinding - January 15th, 2021 [January 15th, 2021]
- AMLO's government grants $89 million pesos to remodel the stadium for the baseball team headed by his brother. - The Yucatan Times - January 15th, 2021 [January 15th, 2021]
- Tokyo area theme parks remodel themselves while waiting out pandemic - Japan Today - January 15th, 2021 [January 15th, 2021]
- Dispatch Top 10 - No. 10: Construction continues in city and Brainerd schools - Brainerd Dispatch - January 3rd, 2021 [January 3rd, 2021]
- Remodeling of old BMV continues - Record Herald - January 3rd, 2021 [January 3rd, 2021]
- Bathroom Remodeling Ideas To Spruce Up That Old Layout - California Herald - January 3rd, 2021 [January 3rd, 2021]
- 2020 Top 3 Stories-#2 Construction of the new school - Pipestone County Star - January 3rd, 2021 [January 3rd, 2021]
- Some MN businesses are booming amid the pandemic - TwinCities.com-Pioneer Press - January 3rd, 2021 [January 3rd, 2021]
- Paso Robles Contractor Reports 'Tips for Choosing the Best Windows' - Benzinga - January 3rd, 2021 [January 3rd, 2021]
- What Homeowners Need to Know About Making Their Bathroom Smarter - RealtyBizNews: Real Estate News - RealtyBizNews - January 3rd, 2021 [January 3rd, 2021]
- Coastal Commission Order to Homeowners to Remove Seawall and Pay $1 Million Fine Upheld - JD Supra - January 3rd, 2021 [January 3rd, 2021]
- Homeowner's Headquarters A Discussion with Encore Construction on Remodeling Trends - CapeCod.com News - October 23rd, 2020 [October 23rd, 2020]
- NAHB: Remodeling Industry Confidence Surges in Third Quarter - RisMedia.com - October 23rd, 2020 [October 23rd, 2020]
- Right Ventricle Remodeling Predictive of Covid-19 Death - Physician's Weekly - October 23rd, 2020 [October 23rd, 2020]
- Remodeling Industry Confidence Surges in Third Quarter DWM Magazine - DWM Magazine - October 23rd, 2020 [October 23rd, 2020]
- Local Event: Home Remodeling: 101 (VIP in-person or live streaming options) - Patch.com - October 23rd, 2020 [October 23rd, 2020]
- Thickening of arterial walls in the lungs of badly asthmatic horses seen in study - Horsetalk - October 23rd, 2020 [October 23rd, 2020]
- Contractor of the Year Awards: Diverse General Contractor of the Year, KOR Building Group - Las Vegas Sun - October 23rd, 2020 [October 23rd, 2020]
- 100 years ago: $3 million in construction, remodeling set - Bloomington Pantagraph - September 22nd, 2020 [September 22nd, 2020]
- Immune signature driven by ADT-induced immune microenvironment remodeling in prostate cancer is correlated with recurrence-free survival and immune... - September 22nd, 2020 [September 22nd, 2020]
- Remodeling Market Trends, Companies, Driver, Segmentation, Forecast to 2024 - The Research Process - September 22nd, 2020 [September 22nd, 2020]
- Bioabsorbable Stent Market Size Share Analysis and System Production (2020-2026) | Abbott, BIOTRONIK SE & Co. KG, REVA Medical, Inc, Elixir... - September 22nd, 2020 [September 22nd, 2020]
- In Excelsior, neighbors now can have a say on whether you can expand your house - Bring Me The News - September 22nd, 2020 [September 22nd, 2020]
- Richland Taco Bell gets makeover, more square feet - tricitiesbusinessnews.com - September 22nd, 2020 [September 22nd, 2020]
- Guard and protect your job site - Daily Commercial - September 22nd, 2020 [September 22nd, 2020]
- How to deal with a big hospital bill when jobless, uninsured - Los Angeles Times - September 22nd, 2020 [September 22nd, 2020]
- For the record - Sept. 19, 2020 | Community | thedailycitizen.com - Searcy Daily Citizen - September 22nd, 2020 [September 22nd, 2020]
- Small army needed to move L&C Library collection - KTVH - September 22nd, 2020 [September 22nd, 2020]
- Crosslake: Council votes 3-2 to proceed with fire hall remodeling project - Brainerd Dispatch - September 9th, 2020 [September 9th, 2020]
- Harvard and Cornell Grad Duo Shake Up The Kitchen Remodeling Industry - PR Web - September 9th, 2020 [September 9th, 2020]