Investor Presentaiton
Tailwinds From Demographic Shifts and Undersupplied Housing
Support Higher Levels of Future Residential Investment
U.S. Population Age 41-56
•
~65 million (Gen X)1
Move up buyers; drives investment
in remodeling
Significant home equity supports
higher levels of remodel activity
•
Higher housing turnover and
increasing mobility
Demographics and past underinvestment, combined with
mobility and migration trends, provide strong multi-year
tailwinds for the U.S. housing market over the next decade
Annual U.S. Housing Starts (thousands) 1
~15 years of underbuilding points to years of above trend demand
2,500
2,000
U.S. Population Age 25-40
1,500
~72 million (Millennials)1
1,000
•
•
•
Seven million more people
compared to Gen X are entering
prime household formation years
Remote work/mobility increases
migration to affordable housing
markets
Increasing disposable incomes
American Woodmark
1 U.S. Census Bureau
500
0
50-year Average
2000
2001
2002
2003
2004
2005
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