US analysts are predicting another record year for home repair, maintenance and improvement (RMI) work, according to industry newsletter Random Lengths.
Estimates of RMI expenditure in 2003 average US$151bn inflation-adjusted 1996 dollars, a 2.5% growth on the Census Bureau’s record US$147.3bn figure for 2002.
Forecasts for this year put RMI spending at about US$155.5bn, a 3% increase on 2003.
The boom is being driven by a second consecutive year of record sales for existing single-family homes.
