Sherwin Williams Sees Stronger Housing Market
Chattanooga, TN, Oct. 15, 2012 -- Single-family housing could be making a comeback, according to a story in the Chattanooga Times Free Press.
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The newspaper interviewed Keith Ruggieri, director of floorcovering at Sherwin-Williams.
"The market is still very strong in the multifamily segment, and we're starting to see that the single family market is starting to come back strong," Ruggieri told the newspaper.
Sherwin Williams, known more for its paint, is also the largest U.S. purchaser of flooring in the multi-family market, Ruggieri told the newspaper.The company buys an estimated 13-14% of the carpet, vinyl and wood flooring sold across the U.S., bringing in earnings of $442 million on sales of $8.76 billion in 2011 from its combined operations.
High occupancy rates are leading landlords to pay for capital improvements and raise rents, Ruggieri said, and that trend should continue into 2014.