Metrostudy Releases Q1 2019 New Pool Index (NPI) — Economic Growth Buoys Pool Activity; Cooling Expected Over Forecast
WASHINGTON, D.C. (June 13, 2019) — Metrostudy, a Hanley Wood company, announced today the release of its first quarter 2019 New Pool Index (NPI), detailing activity in the new in-ground pool installation industry.
In the first quarter of 2019 the New Pool Index increased to a reading of 51.4, up 7.5 percent from one year earlier and up 1.5 percent from the previous quarter. The index has seen thirty-five consecutive quarters of year-over-year gains since activity hit a bottom in 2009. The NPI is forecast to continue increasing over the next few years, but growth rates will begin cooling in 2019. For 2019, Metrostudy expects the NPI to average year-over-year gains of 5.2 percent, before averaging softer gains of 0.6 percent in 2020.
“Pool builders remain busy on the strength of the economy and the ability of homeowners to leverage record levels of home equity. Equity-rich coastal markets continue to be hotspots for activity,” said Mark Boud, Chief Economist at Metrostudy. “We forecast continued growth in new pool construction over the next few years; however, growth rates are expected to moderate, a trend that is in line with the late-innings of the housing cycle,” says Boud.
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, 286 Metropolitan Statistical Areas are expected to see year-over-year growth in new pool projects in 2019, with these markets averaging 5.1 percent growth.
For more information on accessing the full quarterly report, please email Robb Coltrin 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.