The resilient flooring category, which is nearing $7 billion in sales annually, is showing no signs of slowing down in 2023 despite some broader economic headwinds, according to panel of resilient flooring exerts who spoke at The International Surfaces Event in Las Vegas.
Although rising builder sentiment indicates a turning point for housing later this year, lackluster single-family production in January is a sign that the housing sector faces further challenges, as elevated mortgage rates and high construction costs continue to put a damper on the market.
Mohawk is expanding SolidTech’s waterproof capabilities by adding WetProtect technology to the Select and Plus performance tiers. In addition to providing ultimate durability, SolidTech’s expansion of products featuring WetProtect will give consumers confidence knowing their floors feature the right kind of waterproof for the surface and subfloor.
Contractors encountered a wide range of price changes for key construction inputs in January, with steep increases for fuel, concrete, and gypsum products offsetting sharp declines in lumber and steel prices.
Two consecutive solid monthly gains for builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams. Builder confidence in the market for newly built single-family homes in February rose seven points to 42.
The National Association of Home Builders (NAHB) recognizes Senate Banking Committee Chairman Sherrod Brown (D-Ohio), Ranking Member Tim Scott (R-S.C.) and their fellow committee members for making housing the focus of the panel’s first hearing of the new Congress and acknowledging that market-based solutions are needed to boost the production of affordable housing and ease the nation’s housing affordability crisis.
Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability posted three consecutive quarterly declines in 2022 and now stands at its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012.