Articles

Multifamily starts are predicted to fall in 2023, following an unsustainable high level of production last year, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground and will do better than the single-family and multifamily markets in 2023. Read More

The housing recession that began in 2022 will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry and are expected to push the overall economy into a mild recession this year. However, the second half of 2023 could lead to a turning point for housing and the economy. Read More

Multifamily starts are predicted to fall in 2023, following an unsustainable high level of production last year, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground and will do better than the single-family and multifamily markets in 2023. Read More

Almost all economists and contractors expect some sort of an economic slowdown this year. Some have even baked a recession into their current forecasts. But the unanswered question on many observers’ minds remains how this downturn will be different. Read More

Flooring process is used to cover the ground surface of buildings by utilizing various covering materials such as tiles, carpets and vinyl. Industrial flooring is used as covering of the industrial buildings and manufacturing units. These flooring provides many benefits over conventional flooring such as easier common repair and maintenance requirements. Read More

The engine of the U.S. economy-consumer spending-is starting to sputter, reports the Wall Street Journal. Read More

By any measure, 2023 will be a challenging year for the floor coverings industry. Historically, every time mortgage rates increased housing demand declines. And when housing demand declines flooring sales suffer. The past year has been no exception. The nearly 80 percent increase in mortgage rates in 2022 resulted in housing demand (new completions, existing home sales, and manufactured housing) declining by about 14 percent. Read More

The pace of decline during December slowed from November, posting an Architecture Billings Index (ABI) score of 47.5 from 46.6, according to a report from the American Institute of Architects. Read More

Personal income increased $49.5 billion, or 0.2 percent at a monthly rate, while consumer spending decreased $41.6 billion, or 0.2 percent, in December. Read More

While new home sales posted a modest gain in December, elevated mortgage rates and higher construction costs continue to hinder housing affordability and put a damper on consumer demand. Read More