Metrostudy Releases Q2 2018 New Pool Index (NPI)
WASHINGTON, Aug. 23, 2018 /PRNewswire-PRWeb/ -- Metrostudy, a Hanley Wood company, announced today the release of its second quarter 2018 New Pool Index (NPI), detailing activity in the new in-ground pool installation industry.
In second quarter 2018, the New Pool Index increased a strong 8.9 percent year-over-year to a reading of 49.0. Second quarter's measure also represented a 2.1 percent increase from the previous quarter. The index has seen thirty-three consecutive quarters of year-over-year gains since activity hit a bottom in 2009. The NPI is forecast to average annual growth of 8.6 percent in 2018, before growth begins to moderate in 2019 to an average of 3.5 percent. Despite future moderation, Metrostudy expects steady increases in new pool activity over the forecast horizon.
"Second quarter's growth was aided by pent-up demand from first quarter's inclement weather, but primarily, new pool construction in 2018 is being powered by the strong economy and increased home construction," said Mark Boud, Chief Economist at Metrostudy. "With the U.S. economy enjoying a historic expansion, pool builders are extremely busy, while new builders are entering the business, and those who bailed during the downturn are returning. We expect continued growth in pool construction over the near term, with the renovation and repair segment also remaining strong."
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 second quarter report, 331 Metropolitan Statistical Areas are expected to see year-over-year growth in new pool projects in 2018, with average growth of 8.8 percent.
For more information on accessing the full quarterly report, please email Katie Welch at kwelch@metrostudy.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.
About Metrostudy
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, high-profile executive events, and strategic marketing solutions. To learn more, visit hanleywood.com.
SOURCE Metrostudy
