President Biden Extends Moratorium on Foreclosures Amid Pandemic
Washington, DC, February 16, 2021—President Biden has extended the ban on housing foreclosures to June 30. The ban was set to expire on March 31.
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.
Thor Edman, Jr. of WSL Has Died
Dalton, GA, February 16, 2021-Thor Edman, Jr., 76, died February 1.
Residential Remodel Spending Will Continue Growth for Two Years
Washington, DC, February 15, 2021-Spending on residential improvements will continue to grow at a healthy pace over the next two years, according to experts speaking at an online press conference hosted by NAHB Remodelers during the 2021 IBSx.
Record-High Lumber Prices Squeezing Homebuilder Market
Washington, DC, February 15, 2021-Soaring lumber prices are adding thousands of dollars to the cost of a new home, pricing out millions of potential homebuyers and impeding the residential construction sector from moving the economy forward, according to the National Association of Home Builders (NAHB).
Mannington Sells Shuttered High Point Hardwood Building
High Point, NC, February 15, 2021-- Mannington Mills has sold its hardwood manufacturing facility in High Point for $1 million.
Huber Introduces Exacor Magnesium-Oxide Panels
Charlotte, NC, February 15, 2021—Huber Engineered Woods has introduced a new brand to join AdvanTech subfloor assembly and ZIP System building enclosure products with Exacor Magnesium-Oxide (MgO) panels.
Mohawk's Global Sales Up 9% in Q4, NA Sales Up 3%
Calhoun, Ga, February 12, 2021-Mohawk Industries announced net sales for Q4 2020 were $2.6 billion, an increase of 9.0% from Q4 2019’s $2.4 billion. Q4 2020 net earnings were $248 million, a 6.5% decrease compared to $265 million in Q4 2019.
Multifamily Will Be Weak in '21 but Rebound in '22, Says NAHB
Washington, DC, February 12, 2021-Regulatory and supply-side challenges coupled with slowing rent growth and rising vacancy rates will weaken the multifamily construction market in 2021, according to economists from the National Association of Home Builders (NAHB). However, the development market should stabilize by 2022.
Consumer Sentiment Slid 3.5% to 76.2 in Early February
Ann Arbor, MI, February 12, 2021—Consumer sentiment slid 3.5% to 76.2 in early February, according to the University of Michigan Survey of Consumers.
Coronavirus Relief Package Brings Back Three-Martini Lunch
Washington, DC, February 12, 2021-The latest emergency Coronavirus relief package, the Consolidated Appropriations Act of 2020 (CAA) passed on December 21, 2020, reverses some of the Tax Cuts and Jobs Act (TCJA) meals and entertainment changes and provides a temporary full deduction of certain business meals.