Existing Home Sales Declined 7.2% in February
Washington, DC, March 18, 2022—Total existing-home sales sank 7.2% from January to a seasonally adjusted annual rate of 6.02 million in February, according to the National Association of Realtors.
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.
Mohawk Announces Another Price Increase, Effective April 4
Calhoun, GA, March 18, 2022—Mohawk announced that it will be raising prices a minimum of $0.27 per square yard on soft surfaces and 4% to 6% on hard surfaces, accessories, cushion and mainstreet commercial styles.
DeGrace Retiring as President of Foss Floors, Warren Stepping In
Roma, GA, March 18, 2022—After serving 16 years as president of Foss Manufacturing (dba Foss Floors), industry veteran Mike DeGrace has announced his retirement from a flooring career that spans some 50 years.
Material Bank Acquires Amber Engine
New York, NY, March 18, 2022-Material Bank-a marketplace for searching, sampling, and specifying architecture, design, and construction materials-has announced the acquisition of Amber Engine, a software development company with a mission to democratize the product information management (PIM) space.
Housing Worth for Mid-Income Households Rose $2.1T Between '10 & '20
Washington, DC, March 18, 2022-A study from the National Association of Realtors-Housing Wealth Gains for the Rising Middle-Class Markets-examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas.
Housing Starts Rose 22.3% YOY in February
Washington, DC, March 17, 2022—Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,769,000, 6.8% above the revised January estimate of 1,657,000 and 22.3% above the February 2021 rate of 1,447,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced.
Berkley Capital Acquires Majority Interest in Chilewich
New York, NY, March 17, 2022—Chilewich announced that Berkley Capital, the private equity investment vehicle of W. R. Berkley Corporation, has acquired a majority interest in the company.
Alliance Flooring Presents Annual Awards at 2022 Convention
Orlando, FL, March 17, 2022-Alliance Flooring presented its 2022 awards on March 15 at a dinner sponsored by Shaw. The event was part of the annual convention, which took place at the Rosen Shingle Creek in Orlando, Florida.
Industrial Production Rose 0.5% in February
Washington, DC, March 17, 2022—Total industrial production rose 0.5% in February to a level that is 103.6% of its 2017 average, according to the Federal Reserve.
Initial Jobless Claims Down 15K to 214K in the Week Ending March 12
Washington, DC, March 17, 2022—In the week ending March 12, the advance figure for seasonally adjusted initial claims was 214,000, a decrease of 15,000 from the previous week's revised level, according to the Department of Labor.