Memphis, TN, February 10, 2006--Hardwood flooring shipments reached 527,241,000 square feet in 2005, the highest level since before 1966, according to NOFMA: The Wood Flooring Manufacturers Association.
The 2005 shipments level reflects a steady upward trend in flooring shipments that has been ongoing since 1991. Shipments for the month of December 2005 were approximately 41,384,000, slightly less than the same month's shipments from a year earlier. NOFMA attributes the strong annual numbers to the enduring popularity of wood floors and the continued strength of new home construction and residential remodeling.
"Hardwood floors offer homeowners lasting beauty, sustainability and a great value," said Timm Locke, Executive Vice President of NOFMA. "With the proper installation and care, hardwood flooring is an investment for the homeowner that will last a lifetime and beyond.
"We know that the residential repair and remodel market, which for flooring generally means pull and replace, represents about three times the square footage used in new home construction. So, even if we see a fall-off in new home starts in the coming year, we anticipate wood flooring will continues to enjoy strong markets at least until the rate at which people move from one home to another begins to decline and thus replacement of flooring during initial small remodeling activities declines as well," Locke said.
In 1966, the Federal Housing Administration (FHA) approved the use of wall-to-wall carpeting in new home construction, an event that contributed significantly to a near 85% decline in strip flooring shipment levels over the next 10 years (503,863,360 sf in 1966 to 76,041,350 sf in 1975).
Shipment statistics prior to 1966 are spotty, though NOFMA says best shipment year on record was 1955, when producers shipped approximately 929,516,280 sf. A series of recessions, coupled with extremely high interest rates, kept flooring markets depressed until the early 1980s, when they began to recover. (NOTE: Prior to 2005, shipment levels were reported in board feet. For comparison purposes, NOFMA uses a .77 conversion factor to translate board feet into square feet.)
NOFMA points to a variety of factors to explain the continuing rise in wood flooring's popularity. The warmth and beauty of natural wood, as well as its durability and decorating versatility are the primary reasons consumers continue to prefer wood floors in their homes. "People always have and likely always will like the look and feel of real wood floors," he said, "And they know that even if their taste in furnishings or wall coverings change, their wood floors will always fit the décor."
Wood flooring is also a good investment, long-term. A 2004 survey of real estate agents commissioned by the Hardwood Council, an industry marketing coalition, indicated that hardwood flooring can add $7,000 - 10,000 to a home's resale value (www.hardwoodinfo.com). That, in turn, helps to explain why a 2004 survey of wood flooring contractors by Hardwood Floors Magazine, indicated that 71% of wood floor related work was remodeling projects, while the remaining 29% was in new construction.
"For years we've known that one of the first things a new home buyer will do is replace the builder grade carpet in their home with new hardwoods," Locke said. Now, he suggested, more builders are realizing that and offering wood floors as an upgrade option, helping to further spur flooring market growth.
NOFMA also believes the trend toward "green", or environmentally friendlier, building practices has helped fuel demand for wood. More and more consumers, builders, and architects are using hardwood flooring because of its environmental attributes.
