Why some homeowners remodel rather than sell.
Knowing the reasons why homeowners choose to remodel can show how they influence today's housing market. The National Association of Home Builders (NAHB) conducted a Remodeling Market Index (RMI) for the first quarter of this years. The RMI survey asks remodelers to rate market demand for the remodeling market at the present time as compared to 3 months earlier. In addition to the questions that provide the data needed to compute the RMI, the survey often also includes a set of “special” questions on a topic of current interest to the housing industry. Included a special question asking remodelers to rate their customer’s reasons such as desire/need for more space, wanting to avoid moving/buying etc., as a motivation for remodeling their home. Remodelers where asked. Please rate how often your customers cite the reasons below as a motivation for remodeling their homes. Desire for better/newer amenities 4.3 Need to repair/replace old ...