Remodeling numbers good news for handyman business

The Remodeling Market Index (RMI) continued to climb in the third quarter of 2013 rising another two points. This is the highest reading since the first quarter of 2004, according to the National Association of Home Builders (NAHB). I believe this is another sign of a strengthening economy and good news for anyone considering a handyman business.

Improving economy is good news for handyman and remodeling franchises

The RMI's current market conditions index rose from 54 in the previous quarter to 58.
You know this is the highest reading since the creation of the RMI in 2001.
What does that mean? For those not familiar with the RMI it's an indicator of remodeling activity and confidence. Being above 50 indicates that more remodelers report market activity is higher as opposed to reporting it lower.
Increasing home equity and home sales, and a strengthening economy, definitely have an impact. We see it in our own network. Across the country our franchisees are producing some great numbers.

The exciting thing is that all of the three major components of the RMI's market conditions index increased in the third quarter. Minor additions and repairs increased from 55 to 58 while maintenance and repairs increased from 57 to 59. Even major additions and alterations increased from 51 to 55.

The growth in home equity and home sales has given home owners confidence to remodel, repair and do handyman upgrades that they had put off during the tough times.We expect the demand for remodeling services to continue to increase however at a more gradual pace as the housing recovery makes progress.

Do you think this is a good sign?