NAR Expects House Price Rebound Next Year
Washington, DC, May 5, 2009--The National Association of Realtors, in its latest economic forecast, anticipates that the nation's unemployment rate will hit 10.2 percent next year.
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.
Homebuilder D.R. Horton Narrows Loss
Fort Worth, TX, May 5, 2009--Homebuilder D.R. Horton Inc. reported it lost $108.6 million, or 34 cents a share in the second quarter, narrowing from a loss of $1.31 billion, or $4.14 a share in the same quarter last year.
Bamboo Firm Smith & Fong Branches Into Hardwood
San Francisco, CA, May 4, 2009--Bamboo flooring and plywood firm Smith & Fong Co. said it is launching its first line of hardwood flooring.
Weyerhaeuser Earnings Fall in First Quarter
Federal Way, WA, May 5, 2009--Weyerhaeuser Co.'s first-quarter loss widened as the slow housing market hindered sales of its lumber and panels.
Välinge, Berry Terminate Two Licenses
Viken, Sweden, May 4, 2009--Välinge and Berry said they have terminated two licenses due to non-compliance with the contractual provisions of the license.
Cikel Signs Distributor Patriot Flooring
Miami, FL, May 4, 2009—Cikel America LLC said it has a new distribution partnership with Patriot Flooring Supply, Inc. for the Northeast region.
Service Sector Slide Slows in April
Washington, DC, May 5, 2009--U.S. service industries contracted in April for the seventh straight month, but at a slower pace than in March, according to the Institute for Supply Management index released Tuesday.
KeyBanc Analysts Confirm Buy on Lumber Liquidators
New York, NY, May 5, 2009--KeyBanc analysts have reiterated their 'Buy' rating on hardwood flooring firm Lumber Liquidators.
Buffett Sees Signs of Housing Market Bottom
Omaha, NE, May 4, 2009--Warren Buffett said that he sees some signs of stabilization in housing markets.
Construction Spending Rises Unexpectedly in March
Washington, DC, May 4, 2009--Construction spending rose unexpectedly in March after five straight declines, as strength in nonresidential projects and government building offset weakness in housing.