State of the Building Industry Report Reveals Positive ResultsSeptember 25th, 2012 | Category: Industry News
Brooke Chase Associates Inc. released the first half of the 2012 State of the Industry Building Materials Report.
This 12-question survey was sent to more than 30,000 building industry professionals to create a biannual industry report covering everything from industry trends to company statistics. The results of the survey reflect the industry professionals’ first half results and projections for their businesses for the remainder of this year. Respondents included building industry product manufacturers, wholesalers, kitchen and bath dealers, private equity firms, rep agencies and residential homebuilders.
Of those surveyed, 77 percent reported an increase in revenue during the first half of 2012 compared to the same period in 2011. The same percentage forecast an increase in revenue for the 2012 calendar year. This is a 6-percent increase over the same time period last year. Survey results also show 63 percent of participants met or exceeded their expectations for the first half of 2012, and 42 percent indicated they see improvement in the current state of the building materials industry.
The majority of respondents said they are still relying on the remodeling/replacement market and the commercial market for the largest percentage of their business. Others have succeeded in a down market by creating brand image programs and expanding into niche markets. Many respondents indicated that some areas have stabilized and are gaining momentum, and the majority expects an increase within the next 12 months. While many anticipate no increase in their overall staffing plans during the next 12 months, 31 percent indicated that they would be increasing their sales/marketing staff to take advantage of increased market share during the next upward swing in housing starts.