Existing Home Sales Declined 2.2% in July
Washington, DC, August 22, 2023—Total existing-home sales waned 2.2% from June to a seasonally adjusted annual rate of 4.07 million in July, according to the National Association of Realtors.
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Lowe's Reports Q2 Net Sales Decline of 9%, Earnings Down 7%
Mooresville, NC, August 22, 2023—Lowe’s reported net sales of $25 billion for Q2 2023, a 9% decline compared to net sales of $27.5 billion in the same period last year.
Construction Employment Rose in 45 States & DC in July YOY
Washington, DC, August 22, 2023—Seasonally adjusted construction employment rose from July 2022 to July 2023 in 45 states and the District of Columbia, fell in four states, and was unchanged in Vermont, according to Associated General Contractor’s (AGC) analysis of Bureau of Labor Statistics (BLS) data.
Inflated Prices Translating to Smaller New Homes
New York, NY, August 22, 2023-"For many Americans, homeownership may be attainable only if they give up a dining room,” reports the Wall Street Journal.
Retail Sector to Add 1,000 New Stores in 2023
New York, NY, August 22, 2023-"Retailers are on track to open 1,000 net new stores in the U.S. this year as retail availability hits record lows, in fresh signs of the sector’s resilience despite turmoil in commercial real estate,” reports the Wall Street Journal.
AIA Releases 2023 Compensation & Benefits Report
Washington, DC, August 22, 2023—The American Institute of Architects (AIA) has released its most comprehensive report on architecture firm compensation and benefits trends in 15 years.
Unity Marketing's Danzinger Predicts Retail Faces Challenges in Second Half
New York, NY, August 22, 2023-RapidRatings executive chairman James Gellert and Unity Marketing president-founder Pamela Danziger joined Yahoo Finance Live to discuss the state of the retail industry. This is an excerpt of their discussion.
Portobello Begins Production at its Baxter, Tennessee Plant
Baxter, TN, August 21, 2023-Portobello Grupo officially kicked-off production activities at its business unit Portobello America’s recently built plant, located in Baxter, Tennessee, on July 21.
Imports of Ceramic Decline Slightly, Vinyl Sharply in June
Charlotte, NC, August 21, 2023—"Ceramic Imports Showed a Modest Decline: Overall ceramic unit imports decreased 5.2% year over year (y/y), moderating from sharper declines earlier in the year, for units down 6.1% year- to-date. After a roughly flat result last month, Mexico showed a notable decline, down 19.9% y/y, but up 5.8% year-to-date,” reports Truist.
Mannington Names Quathamer Director of Residential Carpet
Salem, NJ, August 21, 2023—Mannington Mills announced that Quentin Quathamer will be joining the organization as director of residential carpet.