Single family construction material revenue is predicted to rise by 25% next year, according to new research from John Burns Real Estate Consulting.
"Some very unique circumstances will likely cause building product companies to significantly underestimate demand this year, leading to even more shortages," writes John Burns' Todd Tomalak in a new analysis. "The building products companies that prepare for this will take significant market share in 2022."
The firm predicts a 10% increase in single-family starts next year, and 11% more materials thanks primarily to delays from 2021 starts. It also forecasts a 1% decrease in materials due to slightly smaller homes being built, and a 5% uptick in prices.
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