The growth in home equity and home sales has given home owners confidence to remodel, repair and do handyman upgrades that they had put off during the tough times.
Cincinnati, Ohio (PRWEB) October 28, 2013
The Remodeling Market Index (RMI) continued to climb in the third quarter of 2013 rising another two points. This is the highest reading since the first quarter of 2004, according to the National Association of Home Builders (NAHB). Jim Hunter President of handyman and remodeling company House Doctors believes this is another sign of a strengthening economy.
The RMI's current market conditions index rose from 54 in the previous quarter to 58.This is the highest reading since the creation of the RMI in 2001. An RMI above 50 indicates that more remodelers report market activity is higher as opposed to reporting it lower.
Jim Hunter President of National Handyman and Remodeling Company House Doctors said, "Increasing home equity and home sales, and a strengthening economy, definitely has an impact. We see it in our own network. Across the country our franchisees are producing some great numbers."
All of the three major components of the RMI's market conditions index increased in the third quarter. Minor additions and repairs increased from 55 to 58 while maintenance and repairs increased from 57 to 59. Even major additions and alterations increased from 51 to 55.
Finally Hunter added, "The growth in home equity and home sales has given home owners confidence to remodel, repair and do handyman upgrades that they had put off during the tough times. We expect the demand for remodeling services to continue to increase however at a more gradual pace as the housing recovery makes progress."
About House Doctors:
For more than 15 years, House Doctors, a 90-plus-unit professional handyman service, has brought commercial property owners and homeowners high standards of customer service, reliability, and quality workmanship. Every House Doctors handyman location is independently owned and operated. Today, House Doctors continues to expand throughout the United States by offering franchise opportunities. For more information on House Doctors, visit http://www.housedoctors.com.