Siding Sales on the Rise

• June 4th, 2010
• In: Brick Siding, Fiber Cement, Stucco, Vinyl Siding, Wood Siding
• By: Rob Sabo
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Sharp declines in housing starts stalled sales of all types of siding, but a recent report published by industry market research company Freedonia Group of Cleveland projects a 6.5 percent increase in siding sales through 2014. Total siding market sales in 2014 are project to exceed $11.3 billion.

What’s Driving Increased Siding Sales?

The return of residential home construction throughout the U.S. is the primary driver of the uptick in siding sales, the Freedonia report says. As the nation moves past the downturn in new housing starts experienced in 2007 through 2009, and the nation’s large home builders return to new home construction, the market is expected to rebound, albeit not quite at the same level of its height in 2006.

What Types of Siding Lead the Market in Sales?

• Vinyl siding: As has been the case for several years, vinyl siding outstrips other types of siding in market share–but it faces increasing competition from fiber cement and stucco siding.
• Brick siding: Brick siding is projected to make the largest gains in total sales. New home construction in the South, where the most brick siding is sold, is projected to account for the most gains in market share.
• Fiber cement siding: Due in large part to its high durability and the fact that it most accurately mimics natural–and more expensive–wood siding, fiber cement siding is expected to make strongest gains in the South and Western regions of the U.S. However, fiber cement siding’s market penetration is projected to remain relatively flat in the Midwest and Northeast.
• Stucco siding and EIFS: Western regions, where these systems are most often used, are expected to drive gains in both siding systems.
• Wood siding: Wood siding products are expected to lose market share through 2014 as savvy homeowners choose materials with longer life and less maintenance.

The Bottom Line

Increased demand for all types of siding means manufacturers can establish higher prices for their products. Don’t put off a siding remodel job–it could cost you substantially more in a few years as the housing market continues to rebound. Contact a siding contractor to find out why types of siding installation best suit your home or project.