The National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI) found that in the third quarter of 2024, a family earning the nation’s median income of $97,800 needed 38% of its income to cover the mortgage payment on a median-priced new home.
Tarkett Home partners with Michael Halebian & Co. to distribute their residential hard surface flooring products in the Mid-Atlantic region, expanding their existing commercial division collaboration.
Swedish flooring manufacturer Kährs Group reported mixed results for the third quarter of 2024 due to continued weak demand in a cautious market primarily for new construction in the Nordics and North America.
October housing starts fell to 1.31 million units annually, with single-family starts down 6.9% but up 9.3% year-to-date. Despite rising mortgage rates, builders remain positive about 2025's outlook, anticipating regulatory improvements and Federal Reserve interest rate cuts to boost construction activity.
Builder confidence increased to 46 in November, marking the third consecutive monthly gain. While optimism grows over potential Republican regulatory relief, challenges persist, including labor shortages, lot availability, and elevated material prices. Price cuts remained steady at 31% of builders, with average reductions of 5%.
The National Floorcovering Alliance (NFA) has expanded its membership with the addition of USA Flooring, a second-generation family business operating five locations across North Carolina.
Women in the Floorcovering Industry (WIFI) continues its professional development initiative with an upcoming virtual session focused on innovative networking strategies.
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