New AAMA Forecast Will Make Window Installers, Manufacturers HappyMay 1st, 2015 by Editor
Demand for windows in new housing is through the roof.
That’s according to the American Architectural Manufacturers Association’s (AAMA) 2014/2015 U.S. Industry Statistical Review and Forecast. This report delivers information on door, window and skylight market trends and product relationships.
Total housing starts continued their growth curve in 2014 with strong gains—particularly in the multifamily segment, up by 14 percent—while single-family starts increased by four percent. The overall new housing market is expected to continue at a strong level of growth through 2017, according to the report, and single-family starts are expected to take the lead in 2015 and experience a 21 percent increase.
“While the Northeast and Midwest regions of the U.S. have experienced stronger growth since 2012, the South and West are expected to be more dynamic over the next three years,” an association statement reads.
The demand for prime windows improved significantly in 2014 and increased overall by just under five percent, driven by a continued strong demand for new housing, although not as strong as originally forecasted at the beginning of the year. The demand for windows in new housing increased by almost 10 percent in 2014, while AAMA forecasts continued double-digit growth for the next three years as the housing recovery continues.
Meanwhile, remodeling and replacement window demand increased modestly, by just under two percent in 2014, with growth in this segment also likely to be relatively modest in 2015 against the backdrop of a short-term decline in existing home sales, before stronger growth in 2016 and 2017, according to the report.