Articles
RēCo Report 2021
The annual RēCo Market Intelligence Report has held strong for 18 years. Each year, Floor Covering Weekly commissions third-party research company The Wayman Group to conduct a nationwide survey of retailers. Read More
BEA News: Personal Income and Outlays, May 2021
Personal income decreased $414.3 billion, or 2.0 percent at a monthly rate, while consumer spending increased $2.9 billion, or less than 0.1 percent, in May. The decrease in personal income reflected declines in pandemic-related assistance programs. Read More
BEA News: Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 1st Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The increase was the same rate as the "second" estimate released in May. In the fourth quarter of 2020, real GDP increased 4.3 percent. Read More
Single-Family starts steady in May
The May reading of 1.57 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 4.2 percent to a 1.10 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 2.4 percent to a 474,000 pace. Read More
High-End Home Sales Surge Nearly Twice as Fast as Sales of Mid-Priced Homes
“So far, the economic recovery from the pandemic has disproportionately benefited Americans with bigger bank accounts,” said Redfin chief economist Daryl Fairweather. “This means a lot of the demand for homes is coming from folks who are well-off, while many lower-income Americans sit on the sidelines because they’ve been priced out of the housing market due to surging prices.” Read More
Home sales data supports aspirational tile
“High-End Home Sales Surge Nearly 2x as Fast as Mid-Priced Homes”. Redfin also reported that “Homes of Every Price Are Flying Off the Shelves”. Redfin is a technology-powered real estate broker, and self-describes as also running the country’s #1 real-estate brokerage site. Read More