Metrostudy's recent Residential Remodeling Index reported that remodeling and replacement projects continue to come in stronger than anticipated. Metrostudy, a Hanley Wood company, reported that the RRI score for the third quarter is 93.3, a two percent improvement over second quarter results.

This is the seventh consecutive quarterly improvement and Metrostudy reported that it expects this year will be the strongest for replacement and remodeling activity since 2007, when the remodeling industry bottomed out. "Remodeling and replacement activity has kicked into high gear as a result of robust existing home sales, strong home price appreciation and rebounding consumer confidence," observed Jonathan Smoke, chief economist for Hanley Wood. Read more...