COLUMBUS — The U.S. housing market has been through a violent correction according to HARDI’s fifth annual Mid-Season HVAC Distributor Survey. Done in partnership with JP Morgan Equity research, the report noted that it took almost five years from the Q1-2006 peak for the market to find a bottom.
During a webinar presentation with Stephen Tusa, JP Morgan’s HVAC industry analyst, it was noted that confidence in a recovery was improving in the back half of 2012 and that the 2013 forecast had a positive bias because the correction had been so deep and painful. According to Tusa, at the time it was difficult to generate a great deal of confidence in an aggressive growth forecast, but that would have been more accurate.