The North American residential decking and railing market dropped from $4.6 billion in 2006 to $2.8 billion in 2009 reflecting a 40% decrease over this time period. These changes have been caused largely by the deep economic recession which has dramatically reduced the homeowner`s ability to finance a new deck or replace an existing deck.
About 2.5 million decks are expected to be built on residential structures in 2009, and over 90% are on existing homes as part of a remodeling project or replacement (R&R) of an existing deck. Job losses, tight credit, devalued homes, the inability to tap into home equity to finance home improvement projects, and record lows in consumer confidence have combined to push decking and railing demand back to levels that have not been seen since the early 2000s.
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About 2.5 million decks are expected to be built on residential structures in 2009, and over 90% are on existing homes as part of a remodeling project or replacement (R&R) of an existing deck. Job losses, tight credit, devalued homes, the inability to tap into home equity to finance home improvement projects, and record lows in consumer confidence have combined to push decking and railing demand back to levels that have not been seen since the early 2000s.
Click here for the complete article
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