Remodeling index hits five-year high
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) reported a 46.6% jump in activity in the fourth quarter of 2011, compared with the third quarter, marking its highest level in five years.
In the fourth quarter, the RMI component measuring current market conditions rose to 48.4 from 43.0 in the previous quarter. Future indicators of remodeling business were also positive, increasing to 44.8 from 40.4 in the third quarter.
An RMI below 50 indicates that more remodelers reported market activity is lower (compared with the prior quarter) than reported it is higher.
"As more consumers remain in their homes rather than move in this economy, remodelers benefited from a gradual increase in home improvement activity, taking us to a five-year high," said NAHB remodelers chairman Bob Peterson, a remodeler from Ft. Collins, Colo. "2011 ended on a strong note for the remodeling industry."
All four regions of the country benefited from the gains between the third and fourth quarters of 2011. The RMI reported higher market activity in two important categories: major additions at 52.3 (from 45.2) and minor additions at 50.1 (from 45.7).
Two of the indices reported a level over 50: calls for bids at 50.7 (from 45.4) and appointments for proposals at 50.1 (from 43.3), while work committed for the next three months only rose to 31.5 (from 29.9).
"With several key components above 50, the latest RMI provides reason for guarded optimism going forward," said NAHB chief economist David Crowe. "The residential remodeling market has been improving gradually, mirroring the trend in other segments of the housing market. Stringent lending requirements and economic uncertainty continue to be a drag on demand, but we expect a modest growth in remodeling activity to continue throughout 2012."
I have just started my home
I have just started my home remodeling, my wife and I wanted an improvement and since we can't afford to buy a larger house we decided to make the best with what we have. You'd be amazed to see the difference the new bathroom vanities make!
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GAF unveils new shingles
Roofing manufacturer GAF has announced Timberline American Harvest Lifetime Shingles, featuring a stunning color palette, "inspired by the colors of the American Heartland."
Timberline American Harvest Lifetime Shingles are designed with an optimized construction and an advanced color-application technique that results in an extra-dimensional look for the home. The seven unique colors were created to complement the most popular home exterior color schemes. Custom colors include Golden Harvest, Nantucket Morning, Appalachian Sky, Brandywine Dusk, Saddlewood Ranch, Adobe Sunset and Cedar Falls.
“Property owners are very cognizant of color today, and it plays a big role in what shingle they choose for their home. Often, this decision is driven by their overall exterior color scheme and what shingle color matches their paint, siding or trim,” said Emily Cavanagh, director of shingles and product development at GAF. “The American Harvest blends were designed to incorporate the most popular color palettes used on homes today, to better match the roof to the overall style of the home. Ultimately, this will help homeowners increase their curb appeal and the sophistication of their home.”
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NCR introduces cloud-based POS system for independent retailers
NCR has announced the introduction of a point-of-sale system that will allow independent retailers to manage transactions, track sales and inventory, process credit cards, and market to customers on both touch-screen terminals and Apple mobile devices.
The system is a cloud-based platform that NCR said would give independent retailers a multichannel "sell anywhere" capability.
"This new solution makes big-box retail technology accessible for all and enables merchants to focus on their business, not on managing technology," said NCR VP specialty retail Christian Nahas. "We are passionate about helping small businesses run and scale their business, connect with customers across channels and sell anywhere. We are actively talking to all types of organizations who sell to small businesses, and the feedback has been overwhelming: They can’t wait to take this product to their customers."
The platform is scheduled to become widely available in early spring.
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