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Sales of newly built, single-family homes in September fell 3.5 percent to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the September rate is 32.1 percent higher than the September 2019 pace, and on a year-to-date basis, new home sales are up 16.9 percent in 2020. Read More

Single-family starts showed continued growth in September as overall housing production increased 1.9 percent to a seasonally adjusted annual rate of 1.42 million units, according to a report from according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More

"Traffic remains high and record-low interest rates are keeping demand strong as the concept of 'home' has taken on renewed importance for work, study and other purposes in the Covid era," said NAHB chairman Chuck Fowke, a custom home builder from Tampa, Fla. "However, it is becoming increasingly challenging to build affordable homes as shortages of lots, labor, lumber and other key building materials are lengthening construction times." Read More

"With refinancing activity surging, home owners are investing in their homes, which is sustaining strong demand for remodeling," said NAHB Remodelers Chair Tom Ashley, Jr., CAPS, CGP, CGR, a remodeler from Denham Springs, La. "As a result of the rapid changes for work and the economy after the virus-induced recession, homes are serving multiple roles such as school, office and gym. This has directly increased the demand for improvements." Read More

Builder market bright spot: Floor coverings to see Q4 gains Thursday, October 15, 2020 from Floor Covering Weekly Prime Edition New data gathered by Catalina Research shows… Read More

All economic recessions have distinguishing characteristics. For some, it is rampant inflation. For others it is a collapse of a sector of the economy — technology, banking, real estate or basic manufacturing are recent examples. Even with the variation that we have seen in recent recessions, this pandemic-induced downturn is unique among several dimensions. Probably what is most unique is that some businesses have seen devastating losses, while others are largely unaffected or even seeing unexpected growth. Read More

Catalina Research has updated its floor coverings sales estimates for 2020 after more data became available to show the coronavirus effect on domestic demand. New estimates indicate U.S. manufacture dollar sales (shipments minus exports plus imports) could have declined by 10 percent in the second quarter of 2020, and sales could have dropped by 5.2 percent in the third quarter. Read More

Personal income decreased 2.7 percent while consumer spending increased 1.0 percent in August, according to estimates released today by the Bureau of Economic Analysis. Read More

Real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. Read More

"New home sales are now 15 percent higher on a year-to-date basis, with gains in all regions," said NAHB chief economist Robert Dietz. "But with inventory at just a 3.3 months' supply, more construction is needed. The challenge will be whether materials and labor are available." Read More