TRG | The Bottom Line – 1/22

COVID has produced distinct “haves” and “have nots”, and as TRG’s quarterly industry survey season progresses, this verity continues to play out. Our Q4’20 Residential Products Survey published this past week pointed to continued strong residential construction and repair & remodel (R&R) trends. 97% of survey respondents reported COVID had a “significant positive” impact on Q4’20 sales, further citing solid margins. Looking forward, 30% of respondents are forecasting 2021 sales to improve 5-10%, and 62% are expecting an even more robust 10%+ increase in sales. Finally, we expect to see continued extended construction completion times as the supply chain continues to be impacted for more value-added residential products.