It seems that the remodeling industry and the construction sector of our economy are on a roll. There have been reports and studies indicating that the growth will continue into 2015. Metrostudy and The Virginia Center for Housing Research called for over 9 percent growth this year and more than 8 percent growth next year.

I would concur with these estimates and throw in that 2013 was a great building block for the continued growth. However, I am always somewhat pessimistic of these studies and whether they indicate good news or bad news. No one was forecasting the “crash” in business we have come out of, and I also believe, many businesses now run with this in mind. We are not going to make the same mistakes we have made in the past.

Many of us have asked ourselves, “What’s behind this increase in business, what’s changed, and why are the higher end products moving faster than the more sensitively priced products?”

From talking with many of you, I have come up with a few ideas. As our population continues to age, live longer, and be more self-sufficient, the influx of retirees seem to have decided they want to purchase products that will last longer and be more energy efficient. This has led to an increase in the triple glass purchases. Along with this, the higher-end windows are more appealing because there are more standard features, better looks, etc. The trend is similar to purchasing that higher model new vehicle that comes standard with all the “bells and whistles” and also gets better gas mileage.

I also believe that with housing values increasing slowly but steadily, there is some extra equity available for homeowners. However, many people have still not recouped the home equity from the housing collapse. As homeowners, many of us know that we will be in our current homes longer than we expected. As a result, we want better products whether it is windows, a higher end kitchen. bathroom remodel or the nicer deck, homeowners have decided to go with quality.

Finally, I think the future looks extremely bright for the replacement window industry specifically, but also the construction segment of the economy. We have learned a lot from recent history and I believe we are smarter business people as a result.

Great Selling!

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