The original Building Goods Demand Meter was released by John Burns Research and Consulting and Home Innovation Research Labs.
This industry-first data offering tracks current and historical installed product quantities (final demand) for major construction product categories in the United States.
The Building Products Demand Meter measures installed residential market volumes across 18 major building product categories—from dimensional lumber and siding to HVAC and interior paint—back to 2000. It is available for both the new construction and repair and remodel segments of the US residential building products market (installed volumes and year-over-year growth rates).
“The building products industry has been asking for better data to make more informed decisions,” SVP Building Products Research at John Burns Research and Consulting, Matt Saunders, said. “This groundbreaking new product addresses this need, combining our expertise in forecasting and analysis with Home Innovation’s industry-leading survey research. The Building Products Demand Meter provides market size and growth estimates at the category level for both new construction and repair and remodeling end markets.”
The data, which is expected for quarterly updates, is based on more than two decades of survey research conducted by House Innovation in their Annual Builder Practices and Consumer Practices surveys. “The new Building Products Demand Meter combines the best of our longstanding survey research, JBREC’s best-in-class forecasting expertise, and our deep combined knowledge of home building and remodeling,” said Ed Hudson, Home Innovation’s Director of Market Research.
Key takeaways include:
- For 2023, building product volumes exhibit primarily negative growth tendencies. In 2023, 17 of the 18 building product categories being studied are predicted to have single-digit reductions.
- Weakness is most visible in the new construction segment, where installed volumes are expected to fall by double digits in ten of the 18 categories.
- Repair and renovation (R&R) installed volumes are more resilient this year, with only eight of the 18 categories dropping in 2023.
