Existing Home Sales Down 1.5% in September
Washington, DC, October 20, 2022—Total existing-home sales retracted 1.5% from August to a seasonally adjusted annual rate of 4.71 million in September, according to the National Association of Realtors.
Today's Flooring News
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Initial Jobless Claims Declined by 12,000 in Week Ending October 15
Washington, DC, October 20, 2022-In the week ending October 15, the advance figure for seasonally adjusted initial claims was 214,000, a decrease of 12,000 from the previous week's revised level, according to the Department of Labor.
Remodeling Activity Expected to Decline Sharply in Mid-2023
Cambridge, MA, October 20, 2022—Annual gains in improvement and maintenance expenditures to owner-occupied homes are expected to decline sharply by the middle of next year, according to the Leading Indicator of Remodeling Activity (LIRA) by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Carpet One Floor & Home Names New Advisory Committee Members
Manchester, NH, October 20, 2022—Carpet One Floor & Home recently announced the four new members to its Advisory Council.
Milliken Receives Verification of Net-Zero by 2050 Goals
Spartanburg, SC, October 20, 2022—Diversified global manufacturer Milliken & Company announces its science-based net-zero targets have been approved by the U.N.-backed Science Based Targets initiative (SBTi).
Architecture Billings Declined to 51.7 in September but Demand Continues
Washington, DC, October 19, 2022—The AIA Architecture Billings Index (ABI) score for September was 51.7 down from a score of 53.3 in August, indicating essentially stable business conditions for architecture firms (any score above 50 indicates an increase in billings from the prior month), according to The American Institute of Architects (AIA).
Victoria Acquires Florida-Based International Wholesale Tile
Kidderminster, UK, October 19, 2022-Victoria-a U.K.-based designer, manufacturer and distributor of flooring-has acquired International Wholesale Tile (IWT) for $28.5m, according to The Business Desk.
Housing Starts Declined 8.1% in September
Washington, DC, October 19, 2022—Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,439,000, 8.1% below the revised August estimate of 1,566,000 and 7.7% below the September 2021 rate of 1,559,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Mortgage Applications Decline 4.5% in Week Ending October 14
Washington, DC, October 19, 2022-Mortgage applications decreased 4.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 14, 2022.
Martin Howard Receives NTCA's 2022 Ring of Honor
Flowood, MS, December 19, 2022-Martin Howard, executive vice president of operations of the David Allen Company in Raleigh, North Carolina, is this year’s recipient of the National Tile Contractors Association Ring of Honor.