At the National Lumber and Building Material Dealers Association’s (NLBMDA’s) ProDealer Industry Summit in Chicago this fall, Home Innovation’s Ed Hudson, director of market research, presented analysis on the market for materials used in the construction of new homes and remodeling. The analysis and resulting presentation traced the impact of numerous events that have disrupted the U.S. housing industry in recent years, including:
- Housing market boom
- Housing market bust and declining housing values
- The Great Recession
- First-time home buyer tax credits
- Energy tax credits
- Energy code increasing stringency
- Multifamily and single-family market rebounds
- Millennial generation preferences
- Ongoing skilled labor shortage
Over the past 15 years, these events have significantly impacted the housing mix of new starter, move-up, luxury, townhouse, and multifamily homes and have resulted in uneven market declines and rebounds throughout the nation. This, in turn, has led to unpredictable growth and decline in the popularity of many building material types and styles.
Based on his study of the data, Hudson believes the industry has been at a “new normal” for the past couple of years regarding materials purchasing behavior. He also predicts the current labor shortage in construction is threatening to disrupt this pattern. Armed with decades of data from Home Innovation’s Annual Builder & Consumer Practices surveys, Hudson’s most recent industry trend analysis addresses:
- Home design and layout
- Structural framing in floors, walls, and roofs
- Sheathing
- Alternative building systems, including concrete
- Exterior finishes and trim
- Insulation types and values
- Decks and outdoor railings
- Windows and doors
The full presentation is available on Home Innovation’s website.
Hudson is frequently called upon to share his insights with industry groups. If you’re interested in finding out more about the data presented here; purchasing your own survey data reports with geographic detail at state, metro, and county levels; or discussing other market research, reach out to the Home Innovation team.
