The figures for remodeling activity for 2012’s final quarter have been tallied, and the news was great. Each quarter, the NAHB is surveyed regarding remodeling activity. Factors such as current jobs, future contracts, and bid requests are examined. The report is known as the RMI, or Remodeling Market Index. A score below 50 implies that those in the remodeling market are reporting a decline in projects. In much of 2011 and some of 2012, regional scores were often in the low to mid-40s.
The exciting news is that by the end of December 2012, the RMI was at its highest level since 2004. The overall average hit 55 and all four regions had scores over 50. Due to the after effects of Hurricane Sandy, the score in the Northeast region jumped up 24 points.
So with this upsurge in activity, which types of remodeling projects is everyone doing? Here’s a look at a few of this year’s hottest remodeling trends:
Amp Up Energy Efficiency and Sustainability - Going green and incorporating sustainable elements into the home are concepts that have finally gone mainstream. Homeowners are now realizing the benefits of a range of energy saving improvements such as better doors and windows, higher quality insulation, and money saving EnergyStar appliances. Especially popular are water saving kitchen and bathroom fixtures, namely toilets, faucets, and showerheads. Newly designed home lighting and HVAC upgrades are other desired choices.