Housing and Remodeling Trends
At Eastern Glass Block, we always watch the trends in the Housing and Remodeling markets. The NAHB, National Association of Home Builders, provides useful quarterly indices for insight into current market conditions and future expectations for both of these markets.
What we are seeing is that the outlook is steadily improving in both Housing and the Remodeling.
Regarding the Remodeling Market Index (RMI), below the 50 mark indicates that more remodelers say market activity is lower compared to the prior quarter than those that report it is higher. The RMI was running below 50 from the final quarter of 2005 until the 3rd quarter of 2012. We then see the RMI exceed the 50 mark in the 4th quarter of 2012 showing a very positive move.
The NAHB , in its Post about its Housing Market Indices (HMI) stated that “Builder confidence in the 55+ housing market improved the fourth quarter of 2012 compared to the same period a year ago… Although both 55+ HMIs remain below 50, both have improved significantly from a year ago. The single-family index increased 10 points to a level of 28, the fifth consecutive quarter of year over year improvements.” The HMI indicators are trending up, while challenges still remain for the home buyer, such as tight credit conditions and rising costs.
These trends seem to be saying that the American homeowner is increasingly considering and beginning a new home purchase or a remodel of their present home. During these times, we have recognized that there are consistencies in choice, whether a remodel or new construction is chosen. Homeowners want an aesthetically pleasing warm environment that is energy efficient and secure.
Glass Block in modern home design should be considered, because it ticks all of those boxes. Glass Block fills a room with light accommodating open floor plans while not sacrificing security or aesthetics.
You can download our Touch of Glass Idea Book. And, let us know how we can help. Eastern Glass Block has been doing Glass Block installation for more than 20 years from our offices in New York and New Jersey. Do not hesitate to call us at 800.635.1226 We love to share our experience and expertise.