Hardwood Flooring Shipments Pulled Down By Housing

Memphis, TN, April 28--Hardwood flooring shipments for March 2005 are reported at 53,617,000 board feet, a significant drop (10.8%) from the shipments reported for the same period a year earlier, according to NOFMA: The Wood Flooring Manufacturers Association. The information represents data from hardwood flooring manufacturers in the U.S. Figures for the same month in 2004 show shipments of 60,083,000 board feet. This is the third consecutive month in which shipments lagged behind the 40-year highs of 2004. NOFMA believes the primary culprit is housing starts. According to the U.S. Census Bureau, housing starts in the fourth quarter of 2004 were about 16% below the housing starts figure for Q3 of 2004. The impact from dramatic increases of decreases in the housing starts figure for finish materials such as flooring tends to lag behind by about three months. In addition to the slow-down in construction activity NOFMA believes an increase in the volume of imported wood flooring products also is contributing to the decline in shipments for domestic manufacturers. Year-to-date shipments for the first three months of 2005 are 156,192,000 board feet, about 6% less than the same period in 2004. Shipments through three months of 2004 were 166,235,000 board feet. Hardwood flooring shipments for the past 12 months have totaled 662,761,000 board feet, more than 15 million feet higher than the same 12-month period one year ago.