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COVID-19 Causes Largest Drop in Construction Confidence Index in History

“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

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Millennials will control our world (Four in a five-part series)

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

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Catalina Research report on e-commerce sales

Catalina Research has released its newest report on flooring, furnishing and home improvement e-commerce trends.  According to the report, e-commerce sales for the leading online retailers of flooring, furnishing and home improvement products soared as the coronavirus shelter-in-place orders accelerated the shift to e-commerce business. Read More

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New Research Outlines Human Behaviors Impacting Kitchen and Bath Design

NKBA Living Impacts Design study forecasts primary kitchen and bath influences: connectivity, simplification, wellness and living in place Read More

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Existing-Home Sales Fall 9.7% in May

Existing-home sales fell in May, marking a three-month decline in sales as a result of the coronavirus outbreak, according to the National Association of Realtors.  Read More

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BEA News: Personal Income and Outlays, May 2020

Personal income decreased 4.2 percent while consumer spending increased 8.2 percent in May. Read More

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BEA News: Gross Domestic Product, 1st Quarter 2020 (Third Estimate); Corporate Profits, 1st Quarter 2020 (Revised Estimate)

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. The decline is the same as in the “second” estimate released in May. In the fourth quarter of 2019, real GDP increased 2.1 percent. Read More

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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