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December Industry Snapshot Report Available Now
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Home Sales Projected to Fall After Decade of Increases
Home sales in 2023 are expected to fall to the lowest level since 2011, with high mortgage rates and inflation cited as the driving factors, according to Redfin. The residential real estate brokerage also anticipates that builders will slow the new single-family home construction rate and shift spending to multifamily units. Home prices are projected
U.S. Builder Confidence Improves in January
U.S. builder confidence for new single-family homes in January climbed four points from December to 35, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales conditions increased four points to 40, while the measurement of sales expectations in the next six months rose two points
December U.S. Housing Starts Decrease
U.S. housing starts in December 2022 were at a seasonally adjusted annual rate of 1.38 million, dropping 1.4% from November and 21.8% lower than the comparable month in 2021. Single-family starts increased 11.3% from November to 909,000. U.S. building permits in December were at a seasonally adjusted annual rate of 1.33 million, shrinking 1.6% from
U.S. Remodeling Spending to Slow in 2023
The fourth quarter 2022 Leading Indicator of Remodeling Activity (LIRA) predicts remodeling and repair spending will slow to 2.6% growth by December 2023 compared to 16.3% at the end of last year, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA, published quarterly, is a short-term
Q4 2022 U.S. Remodeling Confidence Dips
The National Association of Home Builders (NAHB)/Royal Remodeling Index (RMI) reported a U.S. remodeling confidence index of 66 in the fourth quarter of 2022, dropping 11 points from the third quarter and 17 points below the same period in 2021. The current market conditions indicator shrank seven points to 75 and the future indicators index
Kitchen and Bath Cabinet Sales Grow in December
U.S. kitchen and bath cabinet sales in December 2022 were 9.7% higher than the comparable month in 2021 and up 3.1% from November, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. Year-to-date sales increased 16.4% over 2021. Semi-custom sales improved 19.3% from December 2021 and 1.9% from November. Custom
Q4 2022 U.S. Hotel Construction Pipeline Strengthens
The latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported fourth-quarter 2022 hotel projects totaled 5,465, up 14% compared to the same period in 2021. Total hotel rooms under construction rose 12% from Q4 2021 to 650,626. Projects in the early planning stages hit a record of 2,348 with 279,912 rooms, increasing from
Canadian Retail Sales Improve Year-Over-Year
Canadian seasonally adjusted retail furniture store sales in November 2022 increased 0.4% from October to $1.18 billion (CAD) but were 5.9% lower than the same month in 2021. Sales for building material dealers fell 3.8% from October to $3.94 billion and dropped 2.4% from 2021. Total Canadian retail sales dipped 0.1% from October to $61.8
Spring Meeting Registration and Hotel Reservations Available
Registration for CPA’s 2023 Spring Meeting, April 16-18 (departure on the 19th), at the Westin La Paloma Resort in Tucson, AZ is now available. The meeting begins on Sunday with the annual golf tournament at 8am followed by the Welcome Reception at 6pm. The meeting concludes Tuesday evening with the Chairman’s Dinner following a full day’s agenda,
December Industry Snapshot Report Available Now
Please LOGIN to review this restricted content. If you’ve requested a new password and did not receive one, please check your spam folder and also make sure the following domain is “whitelisted” as a safe sender: weblinkinternational.com. If you still did not receive a password reset email. please contact us. If you’re not a member,
Home Sales Projected to Fall After Decade of Increases
Home sales in 2023 are expected to fall to the lowest level since 2011, with high mortgage rates and inflation cited as the driving factors, according to Redfin. The residential real estate brokerage also anticipates that builders will slow the new single-family home construction rate and shift spending to multifamily units. Home prices are projected
