“Pool builders have seen a noticeable uptick in activity over the last year as American households have become increasingly confident in spending on their homes," said Mark Boud, Chief Economist at Metrostudy.
Washington, D.C. (PRWEB) August 17, 2017
Metrostudy, a Hanley Wood company, announced today the release of its second quarter 2017 New Pool Index (NPI), detailing activity in the new in-ground pool installation industry.
In the second quarter of 2017, the national New Pool Index increased to a reading of 45.3, which represents a 7.7 percent increase from one year earlier and a 1.9 percent increase from the previous quarter. The outlook for new pool activity remains positive. At year-end 2017, the NPI is expected to see a 6.5 percent year-over-year increase, followed by annual gains of 3.9 percent and 3.6 percent in 2018 and 2019, respectively.
“Pool builders have seen a noticeable uptick in activity over the last year as American households have become increasingly confident in spending on their homes. Rising home values, the bull stock market run, and still-low rates for borrowing money have been behind most of this confidence. And, if the economy continues to strengthen, American households could see further increases in the discretionary income that drives spending on projects like pools,” said Mark Boud, Chief Economist at Metrostudy. “Pool builders are increasingly busy, but new pool installs have quite a ways to go before reaching 2005 peak levels. The real strength in the pool industry over the last few years has been in renovation, repair, and maintenance. Similar to home remodeling activity, which recovered completely in late 2015, Americans have been catching up on deferred maintenance for their pools, just as they have on other parts of their homes. This is renovation and maintenance they had set-aside during recessionary years, but now have the money and need to do. And, as paychecks improve, more pool owners are now able to spend extra on newer upgrades, like energy efficient equipment. These trends have pool part manufacturers and distributors busy as well.”
Metrostudy produces the NPI to provide the industry visibility into local market pool activity, forecasted future activity, and potential demand. According to the company’s second quarter report, 354 Metropolitan Statistical Areas are expected to see year-over-year growth in new pool projects in 2017, with average growth of 19.5 percent.
For more information on accessing the full quarterly report, please email Katie Welch at kwelch(at)metrostudy(dot)com.
About the New Pool Index
The NPI is a quarterly measure of the level of pool installation activity in 381 metropolitan statistical areas (MSA) in the U.S., with the national composite reflecting the national level of activity. On the national level, a number above 100 indicates a level of pool activity higher than the level of activity in 2005, which was the peak of pool installs in the prior decade. Each MSA’s activity index is computed independently based on that market’s pool related data and shows the current level of activity in the specific MSA relative to the MSA’s own history and relative to year 2005.
The index is produced through a statistical model that leverages detailed data on pool installation activity, including household level pool permits, existing pool locations, and survey of planned pool purchases. Quarterly historical results for the national composite and for each of the 381 Metropolitan Statistical Areas in the U.S. are available back to 2004. In addition, Metrostudy also produces annual estimates of pool project counts as well as forecasts of the quarterly index and annual project counts.
Metrostudy is the leading provider of primary and secondary market information to the housing and residential construction industry. Metrostudy’s actionable business intelligence informs investment decisions that mitigate risk and grow revenue for builders, developers, lenders, suppliers, retailers and manufacturers. It’s the construction industry’s only integrated data intelligence solution supported by the most extensive U.S. geographic coverage. Learn more at Metrostudy.com.
About Hanley Wood
Hanley Wood is the premier company serving the information, media, and marketing needs of the residential, commercial design and construction industry. Utilizing the largest analytics and editorially driven Construction Industry Database, the company provides business intelligence and data-driven services. The company produces award-winning media, both digital and print, high-profile executive events, and strategic marketing solutions. To learn more, visit hanleywood.com.