Metrostudy announced today the release of its fourth quarter 2015 Residential Remodeling Index, which details activity in the remodeling and replacement industry.
The national RRI Activity Index reached 103.1 in the fourth quarter of 2015, which was up 5.4% from one year earlier, and up 0.9% from the third quarter of 2015. The company reports that remodeling activity in the country rounded out 2015 with notable growth, and economic indicators forecast continued expansion over the next few years.
“Remodeling activity remains on solid footing with the big driver being the existing home market. Sales of previously owned-homes in 2015 were the highest since 2006, and with low supply, home prices continue to trend upward. Increasing home values are bringing more homes on the market and spurring remodeling and replacement – before and after a sale,” says Brad Hunter, Chief Economist at Metrostudy.