No matter how you felt about 2016, there were certainly several positive things that occurred. Unemployment continues to decrease, construction numbers saw gains, and positive reports were released about the coming year(s).
The EIFS industry has been reporting positive numbers in the each of the last several years, and we expect this trend to continue. Additionally, here are 6 things we can look forward to in 2017:
- According to the National Association of Home Builders (NAHB), 2016 will close with the highest builder confidence level since July 2005.
- The 2017 Dodge Construction Outlook projects new construction starts to increase 5%, over the 1% we saw in 2016.
- Non-residential construction should continue to rise, thanks in large part to private sector activity. Several signature projects in metropolitan areas will help drive the increases, that Dodge predicts to reach around 6%, over the 12% for 2016.
- “Our forecast shows single-family production expanding by more than 10 percent in 2016, and the robust multifamily sector leveling off,” said NAHB Chief Economist Robert Dietz.
- After a couple poor years for manufacturing numbers, plant construction will increase roughly 6% in the coming year.
- The siding market will continue to grow through 2019, with EIFS being among the most rapid areas of growth.
How was 2016 for you and your company? Are there highlights you would like to share for the upcoming year?