Metrostudy, a Hanley Wood company, announced today the release of its third quarter 2016 Residential Remodeling Index (RRI) detailing activity in the remodeling and replacement industry. And overall it’s a rosy picture.
“Workers are now beginning to see more money in their pockets, and that, combined with the tight housing market, is driving remodeling activity across the country. In the latest October jobs report, average hourly earnings grew 2.8% over the past twelve months, which was the fastest pace since the end of the Great Recession. With the consumer price index having increased only 1.5% over the same period, workers are seeing greater spending power,” said Mark Boud, Chief Economist at Metrostudy.