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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

Catalina’s latest analysis of floor coverings industry trends indicate that the company's March predictions of a double-digit sales decline in this year’s second quarter did not occur. On the other hand, the sharp spring back in demand could be held up with the rising number of coronavirus infections in recent weeks. So, let’s review what did occur over the past three months and what the “new normal” may look like. Read More

“Even as most construction has been deemed essential during the last few months, the loss of new projects and revenue has been severe. This industry is key to our economy, representing three million American jobs and $700 billion in spending," says Christopher Griffin, president and CEO of USG Corporation. “We’re watching closely signs of improvement, as commercial construction can serve as a bellwether for other economic development and recovery.” Read More

ccording to an article on CNBC online, there are approximately 618,000 Millennial millionaires  today and, “by 2030, Millennials will hold five-times as much wealth as they have today and are expected to inherit $68 trillion from their predecessors (their parents) in the great transfer of wealth.” Read More