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"Along with rising builder sentiment, we are seeing increasing consumer demand in the suburbs, exurbs and rural areas," said NAHB chief economist Robert Dietz. "At the same time, builders are dealing with supply-side concerns such as rising material costs, particularly lumber, which surpassed its 2018 price peak this week. Nonetheless, low inventory levels point to construction gains ahead." Read More

"Fueled in part by record low mortgage rates, builders are seeing solid demand for housing despite the challenges of the virus and elevated unemployment," said Chuck Fowke, chairman of the National Association of Home Builders and a custom home builder from Tampa, Fla. "Demand is growing in lower density markets, including exurbs and small metros." Read More

“While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen, and design demand for this space begins to increase.” Read More

Pandemic to Hit Home Remodeling Spending Through Mid 2021 July 16, 2020 from Floor Trends via TalkFloor Expenditures for improvements and repairs to… Read More

In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. The HMI now stands at the solid pre-pandemic reading in March before the outbreak affected much of the nation. Read More

"Many remodelers are busy, even busier than prior to COVID-19. Home owners are calling for decks, patios, porches, and kitchen and bathroom jobs," said NAHB Remodelers chair Tom Ashley, Jr., CAPS, CGP, CGR, a remodeler from Denham Springs, La. "Their optimism for a stronger market is evident through their RMI responses." Read More

"Fueled in part by record low mortgage rates, builders are seeing solid demand for housing despite the challenges of the virus and elevated unemployment," said Chuck Fowke, chairman of the National Association of Home Builders and a custom home builder from Tampa, Fla. "Demand is growing in lower density markets, including exurbs and small metros." Read More

Despite many retailers shutting their doors to curb the spread of COVID-19, shopping hasn’t stopped. In May, retail sales made a remarkable rebound after two months of record-setting lows, spiking 17.7 percent according to the U.S. Department of Commerce’s monthly report. Read More

Current spending levels have likely been boosted by expanded unemployment insurance benefits as well as the result of small business loans under the Payroll Protection Program which provide incentives to for businesses to keep their employees on their payroll during these weaker economic times. Both programs are likely to end soon. Read More

“By the fourth quarter of 2019, housing starts and home improvement construction spending were increasing at double digit rates in response to the 20 percent decline in interest rates in the third and fourth quarter of the year. As a result, U.S. floor coverings dollar sales increased by 2.8 percent in the second half of 2019, while square foot sales began to rise.” – Catalina Research Read More