Housing Market Will Continue Through Winter, Says Zillow
Seattle, WA, December 17, 2021—The usual spring thaw in the housing market appears to have come before winter even begins, according to the Zillow November Market Report.
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.
ABI Score Dipped to 51.0 in November but Remained Positive
Washington, DC, December 16, 2021-The Architecture Billings Index (ABI) score for November was 51.0, down from 54.3 the previous month, according to The American Institute of Architects (AIA).
Housing Starts Jumped 11.8% in November
Washington, DC, December 16, 2021- Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,679,000, 11.8% above the revised October estimate of 1,502,000 and 8.3% above the November 2020 rate of 1,551,000, according to the U.S. Census Bureau.
Construction Starts Slid 14% in November
Hamilton, NJ, December 16, 2021—Total construction starts fell 14% in November to a seasonally adjusted annual rate of $867.8 billion, according to Dodge Construction Network.
Industrial Production Rose 1.6% in October, After Sliding in September
Washington, DC, December 16, 2021—Industrial production rose 1.6% in October after falling 1.3% in September; about half of the gain in October reflected a recovery from the effects of Hurricane Ida, according to the Federal Reserve.
Initial Jobless Claims Rose by 18K in Week Ending December 11
Washington, DC, December 16, 2021—In the week ending December 11, the advance figure for seasonally adjusted initial claims was 206,000, an increase of 18,000 from the previous week's revised level, according to the Department of Labor.
2022 Emerging Leaders Award Now Accepting Nominations
Chattanooga, TN, December 16, 2021-The submissions period for the 2022 Emerging Leaders Award is now open.
E.J. Welch to Acquire Cheney Carpet & Vrooman Carpet
Minneapolis, MN, December 15, 2021—A letter of intent has been signed for E.J. Welch Company, a division of Center Rock Capital Partners’ Merit Distribution Group, to acquire Cheney Carpet and Vrooman Carpet, a specialty flooring distributor in the Upper Midwest.
Retail Sales Inched Up 0.3% in November, Slowing from Oct.'s 1.8%
Washington, DC, December 15, 2021-Advance estimates of U.S. retail and food services sales for November 2021 were $639.8 billion, an increase of 0.3% from the previous month and 18.2% above November 2020, according to the U.S. Census Bureau.
Builder Sentiment Rose 1 Point to 84 in December
Washington, DC, December 15, 2021—Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This ties the highest reading of the year that was posted in February.