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Builder Confidence Surges in June as Housing Rebound is Underway

"As the nation reopens, housing is well-positioned to lead the economy forward," said NAHB chairman Dean Mon, a home builder and developer from Shrewsbury, N.J. "Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak." Read More

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New Housing Numbers Flash Signs of Continued Growth

"The May housing report is consistent with the positive results of the NAHB/Wells Fargo builder sentiment index, and we expect this momentum to continue as economic activity recovers," said NAHB chief economist Robert Dietz. "In another promising sign, single-family permits are up almost 2 percent on a year-to-date basis and builders are bringing back thousands of workers laid off in March and April to meet renewed demand." Read More

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New home sales jump in May

In a further sign that the housing market is rebounding from the COVID-19 pandemic, sales of newly built, single-family homes rose 16.6 percent to a seasonally adjusted annual rate of 676,000 units in May from a downwardly revised reading in April, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The May rate is 12.7 percent higher than the May 2019 pace. Read More

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RēCo Report 2020

RēCo Report 2020 Monday, June 22, 2020 from Floor Covering Weekly The annual RēCo Market Intelligence Report has held strong for 17 years. Each year, Floor Covering Weekly commissions… Read More

Economic Indicators Industry Forecasts Industry Statistics

New housing numbers show sign of growth

"We are seeing many positive economic indicators that point to a recovery, including low interest rates, rising demand and an increase in mortgage applications," said Dean Mon, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Shrewsbury, N.J. "Single-family and multifamily housing production are on an upward path while overall permits, which are a harbinger of future building activity, posted a double-digit gain." Read More

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Builder confidence surges in June

"As the nation reopens, housing is well-positioned to lead the economy forward," said NAHB chairman Dean Mon, a home builder and developer from Shrewsbury, N.J. "Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak." Read More

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FLOORING SALES AND THE CORONAVIRUS

However, once the reins are taken off the economy and consumers regain confidence, floor coverings sales are expected to spring back sharply.  Home furnishing and flooring purchases will receive a boost from historically low interest rates as housing demand rebounds at double-digit rates once again. Read More

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The Housing Industry Is Poised to Lead the Nation's Economic Recovery

As the industry observes National Homeownership Month in June, recent housing data indicate the important role the residential construction industry will play in leading the U.S. economic recovery from the coronavirus pandemic, according to the National Association of Home Builders (NAHB). Read More

Economic Indicators Industry Forecasts Industry Statistics

The death of commercial construction is greatly exaggerated

In the face of significant weakness, there are also are some potential strengths that likely will cushion a portion of the projected downturn in the construction of commercial space. Read More

Economic Indicators Industry Forecasts Industry Statistics

New home sales hold steady in April

In a sign that the housing market is stabilizing in the wake of the COVID-19 pandemic, sales of newly built, single-family homes rose 0.6 percent to a seasonally adjusted annual rate of 623,000 units in April, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The April rate is 6.2 percent lower than the April 2019 pace. Read More