Self Storage Services NAICS 531130

Oct 20, 2025 - Remodeling Index Improves

• Interior design demand may benefit from stability in the residential recycling market. The NAHB/Westlake Royal Remodeling Market Index (RMI) reading for the third quarter of 2025 was 60, up one point from the second quarter, according to an October 2025 report by the National Association of Home Builders (NAHB). Any RMI reading over 50 indicates that most remodelers feel market conditions are good. In the third quarter, the Current Conditions Index portion of the RMI rose two points to 68 compared to Q2 2025. The Future Indicators Index component of the RMI increased by one point to 52. While the RMI remained solidly in positive territory in Q2 2025, the NAHB noted that high labor and materials costs and waning consumer confidence continue to pose challenges to the remodeling industry. However, the aging of the US housing stock and rising household net worth support remodeling spending.
• Demand for interior design services could be impacted amid a recent round of new tariffs on some types of building materials. On October 14, 2025, the US began adding a 25% levy on cabinets, vanities, and unupholstered furniture imports, and 10% tariffs on wood floors, lumber, and wood, according to The New York Times. Industry watchers say the new tariffs will significantly raise construction and renovation costs for U.S. homebuilders. With duties reaching up to 50% on some items by January, builders who rely on foreign materials warn of project delays and increased uncertainty. The National Association of Home Builders estimates that 7% of materials used in new residential construction are imported. Industry leaders fear the added costs will be passed on to consumers, making homeownership and renovations more expensive while slowing new home construction, deepening the housing shortage, and offsetting any relief from falling interest rates.

• Sales of existing US homes decreased by 0.2% in August from July but were up 1.8% year-over-year, according to the National Association of Realtors (NAR). NAR chief economist Lawrence Yun said, "Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory. However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months." Existing home sales are a demand driver for interior design services.
• Home builder confidence in the single-family market improved in October but remained solidly in negative territory, according to the National Association of Home Builders (NAHB). Home builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), rose five points to 37 in October 2025 compared to September's reading of 32. Any HMI reading over 50 indicates that more builders see conditions as good than poor. October's HMI marked the highest reading since April 2025. Builders are cautiously optimistic as the average for a 30-year fixed-rate mortgage dropped to 6.3%, and the Federal Reserve is expected to ease interest rates further later in the year. However, the housing market remains challenging as many would-be buyers stay on the sidelines waiting for lower mortgage rates.