Residential Market Forecast Positive, According to FGIA Industry Market Data
September 28, 2020
FGIA released updated industry market data in the FGIA Industry Update of the U.S. Market for Residential and Non-residential Windows, Doors and Skylights. This report serves as an updated overview of the reports released by the association in May. New forecasts included in this update are based on projections of construction activity as of mid-September 2020, including a consensus of current economic and construction forecasts along with input from industry participants on year-to-date shipments.
This is the first of these more frequent reports from FGIA, with another update expected in December 2020.
According to the report update, changes to forecasts have been positive in the residential market as housing activity and indicators, including new housing starts, existing home sales and home improvement expenditures, have all shown strong monthly gains since May, leading to continual upward revisions of forecasts for the year.
Indicators for non-residential construction have not changed in the same way, and while there has been some moderation in expected declines for 2020, it is still seeing a much greater adverse impact from COVID-19 and will continue to be negatively impacted over the next two years, as forecasted in the report.
On Oct. 6, a session exclusive to FGIA members during the FGIA 2020 Virtual Fall Conference will explain the methodology and forecasting of the study update.
This report is being offered at a reduced member discount of $30 and a non-member rate of $300.