Revised AAMA/WDMA Forecast Predicts Steady Growth in Residential Housing Market
January 7, 2014
The American Architectural Manufacturers Association and the Window & Door Manufacturers Association jointly released the December update to the AAMA/WDMA 2012/2013 U.S. Industry Statistical Review and Forecast, which reports information on window, door and skylight market trends and product relationships. The revised report states:
- Residential housing starts and window demand for new housing were slightly less than projected earlier in 2013. Single-family housing starts in 2013 are expected to experience a 16 percent increase, and window demand in new housing is expected to have increased by 20 percent last year.
- New housing starts in 2014 will exceed 1 million for the first time since 2007. Meanwhile, remodeling and replacement window demand is starting to recover and is forecast to increase by 5 percent in 2013, which also is slightly less than previously projected. This is an improvement following a decline of 3 percent in 2012, as recent strong gains in existing home sales are 3 percent higher than projected in the April 2013 report.
- The 2013 residential patio door market is expected to have increased by 11 percent over 2012 levels and will continue to grow through 2015. New construction demand is expected to grow at around 20 percent a year again for the next two years, outpacing remodeling and replacement activity as the housing market continues its recovery.