Metrostudy Releases Q4 2018 New Pool Index (NPI) — New Pool Builds Steady; Renovation and Repair to Remain a Bright Spot
WASHINGTON, D.C. (February 28, 2019) — Metrostudy, a Hanley Wood company, announced today the release of its fourth quarter 2018 New Pool Index (NPI), detailing activity in the new in-ground pool installation industry.
The New Pool Index increased a healthy 7.8 percent year-over-year to a reading of 50.5 in the fourth quarter of 2018. Fourth quarter’s index also posted a 1.6 percent increase from the previous quarter. The index has seen thirty-four consecutive quarters of year-over-year gains since activity bottomed in 2009. The NPI is forecast to continue growing over the next few years, yet, annual growth is expected to moderate to an average of 4.2 percent in 2019 and 0.9 percent 2020.
“New pool construction continues to be fueled by strong job growth and all-time high levels of home equity. By most accounts, pool builders remain busy heading into 2019, with only a few whispers of projects expecting to slow a bit,” said Mark Boud, Chief Economist at Metrostudy. “While we expect continued gains in the New Pool Index over the next several years, growth will likely moderate as the economic and housing cycles mature. The renovation, repair, and maintenance segment will remain a bright spot within the industry over the forecast, as rising mortgage rates will persuade more people to stay in their current homes and renovate their aging pools,” 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 fourth quarter report, 295 Metropolitan Statistical Areas are expected to see year-over-year growth in new pool projects in 2019, with these markets averaging 5.7 percent growth.
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.