Historic data for 2006 through 2012 and forecast data for 2013 through 2015 are also included in the report. Forecasts are based on projections of construction activity as of March 2013.
The updated report shows that in 2012, new residential construction activity closed with a 26.5 percent improvement compared to 2011, which is slightly better than what was forecasted last December. This improvement is attributed to strong gains in both single family and multi-family segments. The study forecasts similar improvement for 2013, with multi-family and single family starts each expected to experience a 28 percent growth. Going forward, the overall new housing market is expected to continue a similar level of growth for at least the next two years.
The demand for prime windows rebounded somewhat in 2012 and increased overall by 6 percent, driven by strong demand for new housing. The outlook for residential window demand continues to be optimistic, with expectations for a 15 percent increase in 2013. The expected increase is driven largely by expectations for stronger new construction activity and a 9 percent increase in renovation.
Nonresidential construction activity experienced slow growth, though the net effect was negligible in categories favorable to architectural door volumes (hospitality, education, healthcare, office, etc.). Specifically for 2012, total volume remained steady at 2.3 million units for nonresidential entry doors and 6.3 million units for architectural interior doors, reflecting a flat market in comparison with 2011.
Residential skylights closed the year with a growth rate of nearly 2 percent over the 2011 volume, lower than what was forecasted in December 2012. New construction skylight activity was up 10 percent in 2012, which is lower than anticipated, while remodeling and replacement skylight activity was flat versus 2011 totals.