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Spending on residential improvements will continue to grow over the next two years at a gradual pace, according to experts at a press conference hosted by the National Association of Home Builders (NAHB) Remodelers at the NAHB International Builders' Show (IBS) here. Professional remodelers from across the country agreed with the forecast, citing increased consumer confidence and demand. Read More

"Low resale inventory, favorable mortgage rates, historically low unemployment and accelerating wage growth are driving builder sentiment and point to single-family production gains in 2020," said NAHB chief economist Robert Dietz. "At the same time, builders are still underbuilding as they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots. These affordability headwinds are impeding more robust construction growth." Read More

"The low inventory of homes on the market is forcing people to stay in their homes, thus increasing the desire and demand to remodel," Read More

As flooring manufacturers head into 2020, leaders are bullish on the industry’s outlook and are making extensive and aggressive plans to invest in a variety of areas to grow their businesses, from expanding their physical footprints to growing their product assortments.  Read More

Total housing starts increased 16.9 percent in December to a seasonally adjusted annual rate of 1.61 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. This is a 13-year high for housing starts. Read More

"With the Federal Reserve on pause and attractive mortgage rates, the steady rise in single-family construction that began last spring will continue into 2020," said NAHB chief economist Robert Dietz. "However, builders continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes." Read More

“While homebuilding and sales activity are now firming, softness from earlier last year will continue to pull on remodeling spending growth in 2020,” says Chris Herbert, managing director of the Joint Center for Housing Studies. “However, the slowdown should begin to moderate by year-end as today’s healthier housing market indicators will ultimately lead to more home renovation and repair.” Read More

The tile industry saw a 2.1 percent increase in 2019, totaling $3.9 billion in sales according to Catalina Research. While growth was in the low single digits, Catalina noted that ceramic tile was the only flooring category outside of resilient to gain share in 2019. This year, the tile industry is looking to raise its competitive edge by expanding into new spaces such as kitchen and bath and exteriors.  Read More

The need for immigrants is particularly critical in the high-growth states like California, Texas and Florida, where the economy has the opportunity to expand but is hindered by a critical shortage of labor. Austan Goolsbee, a rather renowned economist at the University of Chicago, has stated that half of the Fortune 500 firms were started by immigrants or their children. The long and the short of the matter is that without immigration, our California economy will suffer and be hindered in its long-term economic goals. Read More

The industry’s strength was centered in luxury vinyl tile (LVT) products, while sales of all other flooring products declined. Catalina said in 2019, LVT sales could have increased by over 25 percent in dollars and square feet (Catalina Report on LVT and Other Resilient Flooring). On the other hand, sales of all other flooring products could have declined by 2.9 percent in dollars and 5 percent in square feet, Catalina said, adding the weakest performing sectors were carpet and area rugs, laminate flooring and wood flooring. Conversely, the ceramic tile sector was able to make some inroads in the face of soaring LVT sale Read More