According to NARI National News, the National Association of the Remodeling Industry’s (NARI) third-quarter Remodeling Business Pulse (RBP) data of current and future remodeling business conditions indicated strong growth in the third quarter of 2014 with a rating of 6.41. Quarter-over-quarter increases are evident in all sub-components measuring remodeling activity. This is the second quarter of growth in 2014, coming on top of June’s strong increase over the 6.07 recorded in March.
All of the sub-components in the 3rd quarter increased, with ‘conversion from bids to jobs’, showing the strongest gain by three percent. (Rating is from 1 to 9, where 1 is much worse than a year ago and 9 is much better; 5 is about the same as last year):
Current business conditions increased to 6.41 (from 6.29 last quarter)
Number of inquiries increased to 6.51 (up from 6.38 last quarter)
Requests for bids rose to 6.41 (from 6.29 last quarter)
Conversion of bids increased 6.01 (from 5.83 last quarter).
Sales value of jobs improved to 6.27 (up from 6.20 last quarter).