Home Prices in Free Fall in Metro Areas
New York, NY, January 29, 2008--Home prices fell by a record 8.4 percent in November, according to the Standard & Poor's/Case-Shiller 10-city composite home price index.
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.
Foreclosures To Continue Heavy Pace in 2008
Irvine, CA, January 29, 2008--The number of U.S. homes in foreclosure last year rose 75 percent from 2006, according to real estate tracking firm RealtyTrac.
Consumer Confidence Falls in January
New York, NY, January 29, 2008--The Conference Board Consumer Confidence Index, which had improved moderately in December, gave back the gain in January.
Poor Carpet Cushion Sales Hurt Foamex Earnings
Linwood, PA, January 29, 2008— Foamex International, a major supplier of polyurethane foam, reported a $137,000 profit or 1 cent per share in the third quarter while sales fell 7.1%.
Meritage Swings To Fourth Quarter Loss
Scottsdale, AZ, January 29, 2008--Meritage Homes swung to a fourth-quarter loss due to the closure of more than 2,000 homes, goodwill write-offs and $130 million pretax charges from real estate valuation adjustments.
Foamex Adds New Mexico Distribution Facility
Linwood, PA, January 29, 2008— Foamex International has opened a new fabrication and distribution branch in Albuquerque, N.M.
Dow Earnings Fall on Increasing Costs, Housing
Midland, MI, January 29, 2008—Earnings for Dow Chemical fell in the fourth-quarter earnings, hurt by weak U.S. housing and auto markets, increasing costs, and restructuring charges.
Analyst Downgrades H.B. Fuller
New York, NY, January 29, 2008--An analyst downgraded the shares of H.B. Fuller, saying the maker of adhesives, sealants and other specialty chemicals faces weak demand in North America and high raw-material prices.
Armstrong Plant Gets FSC Certification
Lancaster, PA, January 28, 2008--Armstrong’s Vicksburg, Mississippi engineered hardwood facility has received Chain of Custody certification from the Forest Stewardship Council (FSC).
Aquafil Buys Italian Dyed Yarn Manufacturer
Arco di Trento, Italy January 28, 2008--Aquafil SpA has acquired Borgolon SpA, an Italian maker of nylon solution dyed yarn for the textile and apparel market.