Articles
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
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
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
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
US tile imports fell sharply in the first quarter
The figures for ceramic tile imports into the United States in the first quarter of this year confirm China’s comprehensive exit from the market (-98% in both volume and value compared to the first quarter of 2019) following the introduction of countervailing and anti-dumping duties. Read More
BEA News: Gross Domestic Product, 1st Quarter 2020 (Second Estimate); Corporate Profits, 1st Quarter 2020 (Preliminary Estimate)
Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. Read More
Builder confidence posts solid gain
In a signal that the housing market is showing signs of stabilizing and gradually moving forward in the wake of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes increased seven points to 37 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. The rise in builder sentiment follows the largest single monthly decline in the history of the index in April. Read More
Broad decline for home construction in April
In a sign of the growing economic toll from the coronavirus pandemic, total housing starts decreased 30.2 percent in April to a seasonally adjusted annual rate of 891,000 units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Read More