Volume 20, Issue 1

February 9, 2009
 

KB HOME TO USE SHERWIN-WILLIAMS ECO-FRIENDLY PAINTS IN HOMES Home builder KB Home has announced it plans to use an exclusive line of Sherwin-Williams co-branded, low-VOC interior paints in all new homes that begin construction after Jan. 1, 2009. The paint is low in odor, resists mildew and helps promote better indoor air quality.  "Sherwin-Williams has been an outstanding partner to work with in our company-wide effort to build homes that are more environmentally friendly for our customers," said Jeffrey Mezger, president and CEO of KB Home. "Each additional step we take is an important one for our customers and our planet."  The KB Home Studios, where customers can customize their new KB homes, now offers a selection of the new low-VOC interior paint colors as part of its My Home, My Earth line of eco-friendly choices.  KB Home honored Sherwin-Williams at its 2008 Strategic Partners Conference with a Sustainability Partnership award. The awards were given to companies whose products have made a contribution to KB Home's My Home, My Earth strategic environmental initiative. Read the Full Press Release Here

BUILDING PERMITS

Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 549,000.  This is 10.7 percent (±1.3%) below the revised November rate of 615,000 and is 50.6 percent (±1.6%) below the revised December 2007 estimate of 1,111,000.  Single-family authorizations in December were at a rate of 363,000; this is 12.3 percent (±1.5%) below the November figure of 414,000.  Authorizations of units in buildings with five units or more were at a rate of 170,000 in December.  An estimated 892,500 housing units were authorized by building permits in 2008. This is 36.2 percent (±0.8%) below the 2007 figure of 1,398,400. Read the Full Press Release Here 

HOUSING STARTS

Privately-owned housing starts in December were at a seasonally adjusted annual rate of 550,000. This is approximately 15.5 percent below the revised November estimate of 651,000 and is approximately 45.0 percent below the revised December 2007 rate of 1,000,000.  Single-family housing starts in December were at a rate of 398,000; this is approximately 13.5 percent below the November figure of 460,000. The December rate for units in buildings with five units or more was 145,000.  An estimated 904,300 housing units were started in 2008. This is approximately 33.3 percent below the 2007 figure of 1,355,000.  Read the Full Press Release Here 

HOUSING COMPLETIONS

Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,015,000. This is approximately 5.2 percent below the revised November estimate of 1,071,000 and is approximately 23.6 percent below the revised December 2007 rate of 1,329,000.  Single-family housing completions in December were at a rate of 668,000; this is approximately 13.1 percent below the November figure of 769,000. The December rate for units in buildings with five units or more was 330,000.  An estimated 1,116,600 housing units were completed in 2008. This is approximately 25.7 percent below the 2007 figure of 1,502,800. Read the Full Press Release Here 

PENDING HOME SALES INCREASE

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December, rose 6.3 percent to 87.7 from an upwardly revised reading of 82.5 in November, and is 2.1 percent higher than December 2007 when it was 85.9, according to a report from the National Association of Realtors. Lawrence Yun, NAR chief economist, said the index shows a modest rebound. “The monthly gain in pending home sales, spurred by buyers responding to lower home prices and mortgage interest rates, more than offset an index decline in the previous month,” he said. “The biggest gains were in areas with the biggest improvements in affordability.” Read the Full Report Here

AHMA MEMBERS DOWN ON PRESENT MARKET, OPTIMISTIC ABOUT FUTURE  The AHMA Home Improvement Industry Confidence Index moved in two directions in January, with the Current Situation Index falling 41.7 points to 45.8, while the Future Expectations Index improved 25.9 points to 127.6.  In the area of current sales levels, 11 percent of respondents said sales were higher in January versus year-ago levels -- down from 21 percent in December -- while 16 percent reported sales were even, and 73 percent said sales were below year-ago levels.  "With just 11 percent of our members reporting sales above year-ago levels, we are keenly aware of the challenges facing our industry and all other industries in the country today," said Timothy S. Farrell, president and CEO of the American Hardware Manufacturers Association (AHMA). "We know from speaking with our members that they are taking proactive measures to emerge as stronger businesses when the current recession comes to an end."  Looking forward six months, 24 percent of January respondents said they expect sales to be above current levels, up from 16 percent in December; 39 percent said they expect sales to be even in six months, and 36 percent expect sales to be below current levels. Looking forward one year, 50 percent of respondents project sales will be higher, up from 43 percent who felt that way in December; 35 percent say sales will be even one year from now, and 15 percent say sales will be below current levels. "It is encouraging to learn from this most recent monthly survey that only 15 percent of our members feel that sales one year from now will be below current levels," Farrell said.  The AHMA Home Improvement Industry Confidence Index is a monthly indicator of the economic health and "mood" of the industry based on a survey of AHMA members.  Read Full Report Here

UPCOMING DISTRIBUTOR SHOW DATES & EVENTS

HOPE

To keep a lamp burning, we have to keep putting oil in it.

~ Mother Teresa