Good news for spray foam contractors: the housing market is continuing its slow and steady climb back to normal, according to a recent press release issued by representatives at SprayFoam.com.
This is encouraging news for the Spray Polyurethane Foam (SPF) insulation industry, whose professional contractors heavily rely on the housing market to continuously edge forward.
The press release states that markets in 146 of the approximately 340 metro areas in the U.S. returned to or exceeded their last normal levels of economic and housing activity in the second quarter of 2016, according to the NAHB/First American Leading Markets Index (LMI). This represents a year-over-year net gain of 66 markets. The index’s nationwide score ticked up to .97, meaning that based on current permit, price and employment data, the nationwide average is running at 97 percent of normal economic and housing activity. Meanwhile, 91 percent of markets have shown an improvement year over year.
Industry experts point out that Baton Rouge, La., tops the list of major metropolitan areas on the LMI, with a score of 1.61 – or 61 percent better than its last normal market level. Other major cities leading the list include Austin, Honolulu and San Jose. Rounding out the top 10 are Houston, Provo, Spokane, Nashville, Los Angeles and Oklahoma City.
One benefit of spray foam insulation that tends to be very popular with builders and homeowners is its ability to reduce energy consumption. In fact, as you may be aware, spray foam is well known for its impressive insulating properties. It can help make a structure much more energy efficient, which means using less energy for heating and cooling.
It can also result in significant savings (thanks to much lower utility bills), while increasing structural integrity.
To learn about the importance of a spray foam providers with a nationwide footprint, check out our new eBook: “The Importance of Accessibility from Your Spray Foam Equipment Provider.” The eBook also highlights why SPF professionals should make it a point to better understand the impact and far reach an accessible sprayfoam equipment provider – especially one that offers spray foam machines – can have on their business throughout the purchase process and beyond.