Currently at 80.2, the RRI is expected to stay essentially flat through the first quarter of 2012, then slowly begin to climb. For more information on the RRI and to obtain complete data for any U.S. ZIP code, visit http://go.hw.net/r-buyrri.
The latest RRI (Residential Remodeling Index) from Hanley Wood (which also publishes REMODELING) indicates that growth in remodeling activity will continue to be slow in most parts of the country, with some notable exceptions, according to Jonathan Smoke, Hanley Wood’s executive director of research.
“Our revised expectations are essentially flat but there are some real differences happening across the country,” Smoke says. “This is all the more reason for remodelers, manufacturers, and replacement companies to be as targeted as possible [about which] areas have the strongest activity.”
Almost 42% of the 366 markets modeled show increases in remodeling activity for the first half of 2012; another 31% are flat or down 1% or less.
Smoke was also encouraged that Atlanta made the top 20 for the first time. “Seeing Atlanta make this list of markets with above-average activity growth is a good sign and an indication that things are starting to improve,” he says. Smoke added that the outlook for 2013 looks positive.