Industry Indices May/June 2019

July 15th, 2021 by Nathan Hobbs

Labor

What’s the Hold Up?

According to a recent survey by the National Association of Home Builders (NAHB) Remodelers, labor shortages continue to be one of the top concerns for remodelers across the country. Remodelers reported a “serious shortage” or “some shortage” for the following jobs—many of which come just before or just after door and window companies.

Remodelers reported the top effects shortages have had on their businesses:
• Higher wages/subcontractor bids ………………………………78%
• Higher prices for customers ……………………………………….72%
• Difficulty completing projects on time ……………………….67%
• Turning down projects ………………………………………………53%

Market Trends: Residential Doors and Window

According to the American Architectural Manufacturers Association’s (AAMA) 2018/2019 U.S. Industry Statistical Review and Forecast:

Demand for RESIDENTIAL WINDOWS in 2018
Prime Windows ……………………………..+2.6%
New Construction …………………………+3.4%
Remodeling/Replacement ……………+2.0%
Demand for RESIDENTIAL DOORS in 2018
New Construction …………………………+3.8%
Remodeling/Replacement ……………+1.9%

2019 projections for new housing are +1.4%

2018 Single-Family +3%

2018 Multi-Family +7%

The report includes historic data for 2010-18 and forecast data for 2019-21. Forecasts are based on projections of construction activity as of March 2019.

Consumer Research Trends Among Homeowners

A recent study released by Modernize, an online home services listings and leads provider, sheds light on how homeowners educate themselves and make decisions regarding contractors. Among other products, the related survey includes homeowners currently considering windows.

51% consume online articles as a primary source for research on home improvement projects

28% spend more than 10 hours on research.

35% spend between one and five hours investigating a project before submitting a request.

23% list bad communication skills as a deal killer among contractors.

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