At the Fuse Alliance 2022 annual conference, leaders from EF Contract, J+J Floors, Mohawk Group, Schönox, Taylor Adhesives, Teknoflor and Tarkett shared insight on what to expect in commercial flooring in 2022.
While many economists expect inflation to moderate over the course of 2022, as of now, there is effectively no relief in sight for the nation’s contractors, according to Associated Builders and Contractors.
Lansing-East Lansing, Michigan, was named most affordable major housing market and Los Angeles-Long Beach-Glendale, California, was named least affordable major housing market.
Building material costs are up 21% compared to a year ago and persistent supply chain bottlenecks remain the most urgent challenge for builders this year.
Spending by U.S. consumers in major cities is up more than 15% compared to two years ago, fueling a rapid economic recovery that remains on fragile footing as we’ve entered 2022.
Motivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later.
One driver of this increased traffic could be ongoing supply chain challenges and shipping delays, which are resulting in consumers shopping earlier to ensure their gifts arrive on time.