Current conditions declined from 46.6 to 46.0 in the Midwest; 54.7 to 52.9 in the South; and 52.8 to 46.7 in the Northeast, the sharpest regional decline for the second consecutive month.
Future expectations moved up from 44.4 to 48.8 in the Midwest; stayed the same at 57.9 in the South; and declined from 56.3 to 53.8 in the Northeast.
“Despite the slowdown in the fourth quarter of 2004, the market remains positive and we continue to see gains in future expectations,” said NAHB Chief Economist David Seiders. “Calls for bids and appointments for proposals are still coming in, leading us to expect a healthy 2005.”
Broken down into components of the remodeling industry, the RMI saw a small gain in major additions and alterations from 49.22 to 49.88 from the third to the fourth quarter; a decline in minor additions and alterations from 51.65 to 50.15; and a decline in maintenance and repairs from 54.61 to 52.41.
Those surveyed for the fourth-quarter RMI were also asked a special question about their involvement in aging-in-place home modifications.
Sixty-one percent of survey respondents said that their company was involved in home modification work related to aging in place. Of those, about 71% reported undertaking jobs in homes whose owners were in the 55-64 age group; 62% worked on homes whose owners were 65 or older.
About 14% of those polled said that requests for aging-in-place jobs had increased significantly over the past five years, and more than 60% reported seeing some increase.
When asked to assess the familiarity of consumers with the concept of aging in place, 69% of the respondents said that some of their clients were aware of it, while 25% said their customers were not.
The most typical “aging-in-place” projects were installing grab bars, installing higher toilets and widening doorways. Other popular jobs were building ramps and installing curbless showers.
Of the remodelers who reported making aging-in-place modifications, 23% said they had earned a Certified Aging-In-Place Specialist (CAPS) designation and another 28% said they plan on obtaining the designation in the near future.
The NAHB University of Housing Offers Designation Programs and Other Courses
The NAHB University of Housing offers CAPS, CGR, CGB and a variety of other professional designation programs and business management courses that set builders and remodelers apart from the competition. To learn more about NAHB’s designation programs, visit www.nahb.org/designations. For a complete list of all current education offerings, click here.
Watch for a New Look for Nation's Building News
Coming next week, Nation's Building News Online will have a new look and even more of the information you need and want — like the latest lumber prices, interest rates, floor plans, builder tips and industry news and information. Building news that will make your business click.
The new NBN will arrive in an even easier-to-read and more “user-friendly” format — with color-coded category tabs to help you locate information of interest to you quickly and weekly charts to give you an instant read on important economic information like starts, sales and prices on framing lumber, OSB and plywood.
Subscribe Your Employees to Nation’s Building News — Chance to Win Digital Camera
Subscribe your employees to Nation’s Building News Online. It’s free, easy and NAHB members who sign up three or more employees will be entered into the "Make Your Business Click" contest to win a digital camera. To learn more or sign up your employees, click here.
[ Go to Top ]