Consumer Sentiment Rose 13.1% to 78.8 in Early January
Ann Arbor, MI, January 19, 2024—Consumer sentiment rose 13.1% to 78.8 in early January, according to preliminary results from the University of Michigan Survey of Consumers.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Mortgage Rates Hit Lowest Level Since May at 6.6%
New York, NY, January 19, 2024-"Mortgage rates in the U.S. fell after two weeks of increases, dropping to the lowest level in almost eight months,” reports Bloomberg.
Existing-Home Sales Declined 1.0% in December
Washington, DC, January 19, 2024—Total existing-home sales decreased 1.0% from November to a seasonally adjusted annual rate of 3.78 million in December, according to the National Association of Realtors. Year-over-year, sales declined 6.2% (down from 4.03 million in December 2022).
WFCA Recognizes Kathy Young, Mike Faust and Chad Ogden
Dalton, GA, January 19, 2024-The World Floor Covering Association (WFCA) announces Kathy Young as the recipient of the Luminary Award in recognition of her contributions and 45-year career in the floorcovering industry and Michael Faust (posthumously) and Chad Ogden as co-recipients of the Tom Jennings Champion Award for outstanding achievements in the retail sector.
Existing-Home Sales Hit Lowest Level in 28 Years in 2023
New York, NY, January 19, 2024—"Sales of previously owned homes in 2023 dropped to the lowest level in 28 years, as home-buying affordability worsened and the supply of homes for sale remained low,” reports the Wall Street Journal.
NTCA Names Companies Earning Five-Star Accreditation
Jackson, MS January 19, 2024—The NTCA Five-Star Contractor Program has, in recent years, advanced to include accreditation, emphasizing members' dedication to industry professionalism through third-party validation.
American' Optimism About the Economy Rising
New York, NY, January 19, 2024-"Americans’ gloomy mood about the economy is showing signs of lifting,” reports the Wall Street Journal.
Housing Market in Recovery Mode, Says ITR's Lokar
Dallas, TX, January 18, 2024-The housing market hit a recession in mid-2022 and has already started to recover, said Connor Lokar of ITR Economics, during his talk to CCA Global members at the group’s ConnecXtion conference in Dallas, Texas.
Dec. Housing Starts Declined 4.3% from Nov., But Rose 7.6% YOY
Washington, DC, January 18, 2024—Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,460,000, 4.3% below the revised November estimate of 1,525,000 but 7.6% above the December 2022 rate of 1,357,000, according to the U.S. Census Bureau.
Initial Jobless Claims Declined by 16K in Week Ending January 13
Washington, DC, January 18, 2024—In the week ending January 13, the advance figure for seasonally adjusted initial claims was 187,000, a decrease of 16,000 from the previous week's revised level, according to the Department of Labor.