Articles
New housing numbers show sign of growth
"We are seeing many positive economic indicators that point to a recovery, including low interest rates, rising demand and an increase in mortgage applications," said Dean Mon, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Shrewsbury, N.J. "Single-family and multifamily housing production are on an upward path while overall permits, which are a harbinger of future building activity, posted a double-digit gain." Read More
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