Metrostudy Releases Q1 2018 New Pool Index (NPI) — Steady Growth in New Pool Activity, Despite Bad Weather; Tax Cuts Could Boost Spending
WASHINGTON, D.C. (May 23, 2018) — Metrostudy, a Hanley Wood company, announced today the release of its first quarter 2018 New Pool Index (NPI), detailing activity in the new in-ground pool installation industry.
The first quarter New Pool Index measured a reading of 48.0, up 9.2 percent from one year earlier and up 2.3 percent from the previous quarter. First quarter’s year-over-year gain was the strongest rate observed since first quarter 2014, while quarter-to-quarter growth was the highest since third quarter 2013. The NPI is forecast to average annual growth of 9.3 percent in 2018, before growth begins to moderate in 2019.
“First quarter measures of the New Pool Index were very positive, but the pool industry was somewhat restrained in first quarter 2018 due to inclement weather in seasonal markets, creating some backlog that will be deferred to second quarter” said Mark Boud, Chief Economist at Metrostudy. “Overall, pool construction and maintenance continues to improve in-line with performance in the broader home remodeling market, which is riding high on strong employment growth and increasing home values. We expect steady improvement in new pool activity in 2018, with renovation and repair continuing to capture a large portion of business. We’ll be watching closely to see if recent tax cuts inject a boost to spending on pools in the near term.”
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 first quarter report, 320 Metropolitan Statistical Areas are expected to see year-over-year growth in new pool projects in 2018, with average growth of 8.2 percent.
For more information on accessing the full quarterly report, please email Katie Welch at email@example.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.