John Burns Research and Consulting and Home Innovation Research Labs Announce Building Products Demand Forecasts through 2026

IRVINE, Calif., Feb. 23, 2024 ~ John Burns Research and Consulting (JBREC) and Home Innovation Research Labs have recently announced an exciting update to their US residential building products demand forecasts. The two companies have extended their forecasts through 2026 for both new construction and repair and remodeling, providing clients with a comprehensive outlook for the next six years.

This update is made possible through the Building Products Demand Meter, which tracks current and historical US residential installed product volumes for 18 major building product categories. With this enhancement, clients can now access extended quarterly forecasts for each of these categories, as well as an overview of current conditions and demand drivers.

According to JBREC's Senior Vice President of Building Products Research, Matt Saunders, this forecast extension strengthens the company's commitment to equipping clients with product-specific market intelligence for strategic planning. "Our clients are now able to plan three years ahead, leveraging quarterly volumetric data and expert commentary on market drivers to inform their strategy," he stated.

The Building Products Demand Meter is a quarterly measure of building products installed across categories dating back to 2000. This makes JBREC uniquely positioned to set a new industry standard for building product forecast quality, given its well-established expertise in housing, advanced forecasting capabilities, and proprietary surveys covering the housing value chain.

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Ed Hudson, Director of Market Research at Home Innovation, expressed his excitement about this collaboration with JBREC. "We're excited that JBREC has combined our long history of large-sample survey data on 18 building product categories with their industry-leading forecasting capabilities," he said. "This allows us to project installed product usage out to 2026."

Saunders also shared his insights on how building products demand will play out in 2024. "We anticipate big-ticket discretionary projects with higher remodeling exposure to remain weak over the first half of the year and recover over the second half as economic headwinds fade," he explained. "In contrast, we anticipate more stability for small ticket and replacement categories."

To showcase their updated forecasts, the JBREC and Home Innovation teams will be attending the 2024 NAHB International Builders' Show in Las Vegas from February 27-29. Interested parties can schedule a time to discuss the Building Products Demand Forecasts with them.

With this extended forecast, clients can now plan ahead for the next six years with confidence, armed with comprehensive data and expert insights on market trends and drivers. This collaboration between JBREC and Home Innovation is set to raise the bar for building product forecast quality and provide valuable information for strategic planning in the residential construction industry.
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