Brodsky, Greenberg, Inducted in Coop Hall of Fame
Manchester, NH, May 27, 2009--The Cooperative Development Foundation inducted Howard Brodsky and the late Alan Greenberg into the Cooperative Hall of Fame in Washington, D.C. earlier this month.
Today's Flooring News
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New Home Sales Rise Less Than Expected
Washington, DC, May 28, 2009--Sales of new single-family homes rose slightly less than expected in April, the Commerce Department said, and the previous month's figures were revised down to show a steeper fall.
Home Prices Drop More Slowly in First Quarter
Washington, DC, May 28, 2009--The average price of a U.S. home fell 7.1 percent in the first quarter, the Federal Housing Finance Agency in Washington said. That was slower than the price drop in the fourth quarter last year.
Court Approves Foamex Sale to Investment Groups
Media, PA, May 28, 2009--Foamex International Inc. said that the U.S. Bankruptcy Court has approved the sale of all of Foamex's assets to affiliates of MatlinPatterson Global Opportunities Partners III L.P. and Black Diamond Capital Management, L.L.C.
Record Number of Mortgages in Trouble
Washington, DC, May 28, 2009--A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit, according to the Mortgage Bankers Association.
Mortgage Application Volume Down
Washington, DC, May 28, 2009--Mortgage application volume last week fell a seasonally-adjusted 14.2% compared with the week before, as rates on 30-year fixed-rate mortgages ticked up, according to the Mortgage Bankers Association.
NABE Economists Say Recession To End This Year
Washington, DC, May 27, 2009--Over 90 percent of economists predict the U.S. recession will end this year, although the recovery is likely to be rocky.
Consumer Confidence Surges Unexpectedly in May
Washington, DC, May 27, 2009--Consumer confidence jumped in May by the most in six years, fueling speculation the economy will recover later this year.
Davis & Davis Buys Glen Eden Wool Carpet Firm
Chattanooga, TN, May 27, 2009--Davis & Davis Rugs, Inc. said it has completed the acquisition of all the assets of Calhoun, Ga.-based Glen Eden Wool Carpet Inc.
Home Resales Rise as Low End Gets Boost
Washington, DC, May 27, 2009--Home resales rose 2.9% to a seasonally adjusted annual rate of 4.68 million in April, according to the National Association of Realtors.