Articles
2022 State of the Wood Flooring Industry
The following data present a unique snapshot into the wood flooring industry: In early 2022, WFB collected responses from wood flooring manufacturers, distributors, retailers and contractors to find out how they did in 2021, what products are being used and how they feel about challenges in the industry. Note that just as we were finishing collecting responses, Russia invaded Ukraine, so any influence of that is not reflected in the following data.—K.M.W. Read More
Kitchen & Bath remain strong despite rising prices
Catalina Research has released its latest Kitchen and Bath Quarterly Update. According to the report, U.S. kitchen and bath product sales (shipments minus exports plus imports) showed relatively strong current dollar sales gains as manufacturers passed through rising material, labor and transportation costs. Read More
March Construction Spending Rose 0.1% from Feb., 11.7% YOY
Construction spending during March 2022 was estimated at a seasonally adjusted annual rate of $1,730.5 billion, 0.1% above the revised February estimate of $1,728.6 billion, according to the U.S. Census Bureau, and 11.7% above the March 2021 estimate of $1,548.6 billion. Read More
Commercial construction up despite uncertainties
While the residential sector has performed well during the pandemic, the commercial markets have suffered. Remote work has limited the need for office space. Online buying has cut into traditional brick and mortar retail activity. Reduced travel has decreased consumer spending in the hospitality and lodging markets. The U.S. Commerce Department reported that spending on commercial and industrial facilities declined almost 5 percent in 2020, and another 2 percent last year. Read More
Lack of affordability slows new home sales
Worsening affordability conditions stemming from growing supply chain disruptions and rising mortgage rates pushed new home sales lower in March. Sales of newly built, single-family homes in March fell 8.6 percent to a 763,000 seasonally adjusted annual rate from an upwardly revised reading in February, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New home sales are down 12.6 percent compared to March 2021. Read More
New Home Sales Declined 8.6% in March
Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 8.6% below the revised February rate of 835,000 and 12.6% below the March 2021 estimate of 873,000. Read More