Market Growth Will Open Windows and Doors in 2014
February 11, 2014
| Markets & Trends
“The market will probably be up for all home products by 10 or 11 percent for the year. Right now it's kind of quiet, but if you look at order patterns and activity in the first six weeks of the year, we see very strong trends in the South, Southeast, West and Southwest," said Chris Klein, CEO, Fortune Brands Home & Security, parent company of Simonton Windows and Therma Tru Doors, at the International Builders' Show in Las Vegas.
"We see a nice five-year growth trajectory…and we’re building our business to support that," he continued.
Indeed, in mid-January, the Leading Indicator of Remodeling Activity released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University projected double-digit gains in annual home improvement spending for the first half of 2014. On the new construction side, NAHB forecasted total housing starts would grow 24.5 percent to 1.15 million starts this year, with single-family housing leading the way with a 32 percent increase.
Last week’s attendance at IBS, which co-located with the Kitchen and Bath Industry Show for the first time as part of the new Design & Construction Week, was approximately 75,000: a testament to those statistics and to better times ahead. Last year, attendance figures hovered around 50,000.
“This is probably the best IBS since 2005,” said ODL’s channel marketing manager, Roger Finch, who has been attending the show for the past 17 years.
“There has been a lot of traffic, lots of leads, definitely up from recent years,” added Cindy Bremer, vice president of marketing at Kolbe Windows & Doors. “Visitors are engaged and spending time [in our booth].”
To view the products on display at IBS, visit our IBS Snapshots page. Additional information on new introductions in Las Vegas is also available here. For continuing coverage of the product trends at IBS, see next week's edition of WDweekly.