Schaumburg, Ill. – Sept. 12, 2012 – Multi-family and single-family housing starts are expected to experience a slightly better increase this year than what was initially thought, up to 19 percent over 2011 with additional increases in 2013 and 2014, according to the 2011/2012 U.S. Industry Statistical Review and Forecast jointly issued by the American Architectural Manufacturers Association (AAMA) and the Window and Door Manufacturers Association (WDMA). Residential improvement expenditures are expected to see a similar shift.
The report includes information on window, door and skylight market trends and product relationships. Historic data for 2006 through 2011 and forecast data for 2012 through 2015 are also included in the report. Forecasts are based on projections of construction activity as of August 2012.
According to the updated study's data, as of mid-year, residential skylights are tracking at a growth rate slightly higher than the 2011 volume. New construction skylight activity has proven to be greater than expected with double-digit growth percentages. Remodeling and replacement skylight activity has fallen behind initial expectations with only minor growth, though the replacement market is benefiting from weather-related replacement in the first half of the year.
The updated study continues to show little change in the segmentation for residential interior door material types over the next five years. However, significant volume is expected to return to the entry and interior door market as new construction demand is expected to grow at double-digit rates, outpacing remodeling and replacement activity as the housing market recovers.
Nonresidential construction declined slightly in 2011 and is forecasted to continue to remain slow through 2012, tempering growth in the nonresidential architectural interior door categories. However, the updated study predicts a slight improvement in architectural door shipments in 2012 over earlier forecasts. Lagging slightly behind the residential market, nonresidential construction is expected to rebound significantly in the subsequent three years through 2015.