Not only were remodelers pleased with the market during the third quarter of 2003 but they remained upbeat for the coming months.
The current conditions portion of the RMI jumped 4.6 points from the same time in 2002. RMI data is not seasonally adjusted, so comparisons from year to year and not quarter to quarter are most useful. But 2002's third quarter nearly matched its second quarter. The second quarter is historically much higher than the third.
The future expectations index made an even bigger jump, up 8 points from the third quarter in 2002.