Builder Confidence Steadies as Material, Labor Woes Persist

Builder Confidence Steadies as Material, Labor Woes Persist

WASHINGTON, DC — Builder confidence inched up this month on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges, the National Association of Home Builders reported.

According to the latest in a series of monthly NAHB/Wells Fargo Housing Market Indexes, released yesterday, builder sentiment in the market for newly built single-family homes edged up one point, to 76, in September, ending a three-month decline, the NAHB said.

“Builder sentiment has been gradually cooling since the HMI hit an all-time high reading of 90 last November,” said NAHB Chairman Chuck Fowke. “The September data show stability as some building material cost challenges ease, particularly for softwood lumber. “However, delivery times remain extended, and the chronic construction labor shortage is expected to persist as the overall labor market recovers.”

“The single-family building market has moved off the unsustainably hot pace of construction of last fall and has reached a still hot but more stable level of activity,” added Robert Dietz, chief economist for the Washington, DC-based NAHB. “While building material challenges persist, the rate of cost growth has eased for some products, but the job openings rate in construction is trending higher.”

The NAHB said it expects housing affordability will be a key demand-side challenge in the coming quarters, given the rapid rate of growth for home prices and construction costs over the last year.

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Salone Showcases Design

Salone Showcases Design

A special, abridged version of Salone del Mobile.Milano took place last week, amid much fanfare at its return and trepidation amid COVID-19 concerns. The safety of visitors was paramount, with all exhibitors and attendees adhering to protocols at all times, and an abbreviated show floor that often resembled an art gallery, with products hung on walls and shown in unique displays to keep visitors moving and at a safe distance.

“supersalone” did not disappoint, with more than 60,000 people attending the six-day show, which opened with an impromptu visit and remarks from Italian President Sergio Mattarella welcoming guests and 425 exhibitors, who showcased everything from opulent tables and chairs to modern cabinetry and lighting.

Up-and-coming trends were seen throughout the space. Kitchen cabinets sheathed in metal and metallic looks and a wide range of wood tones, and included complementary metal and glass shelving units. Disappearing kitchens were also displayed, with sliding countertops that tuck everything neatly away when not in use.

Faucets reflected a range of geometric shapes, and delivered on the desire for customization with changeable handles and a multitude of finishes that went far beyond the metals of the past. And LED lighting is revolutionizing the shape and size of pendants, sconces and chandeliers, delivering intricate shapes and modern vibes. LED lighting are also prominent in kitchen and closet shelving and interiors, and even in faucet spouts and showerheads.

Following are a few of the products that made a statement during the event.

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Sales Gains Projected for Bathroom Organization Products

Sales Gains Projected for Bathroom Organization Products

CLEVELAND, OH — The growing number of bathrooms in U.S. households will continue to bolster opportunities in the $276-million bathroom organization products market, according to a newly released report by the Freedonia Group.

The analysis by the Cleveland, OH-based market research firm forecasted that sales of bathroom organization products will grow 1.5% per year through 2025, to a total market size of $298 million. Market growth will be relatively slow “because bathrooms are already a well-established segment of the home organization market, and growth will be coming off of elevated sales in 2020, when the COVID-19 pandemic heightened consumers’ investment in their homes,” Freedonia said.

Nevertheless, the company said, the market for bathroom organization products will be sustained by macroeconomic factors such as new home construction, renovations and existing-home sales, “all of which can open up new sales opportunities for suppliers of bathroom organization products by increasing the number and/or quality of bathrooms.”

“New homes are increasingly built with more bathrooms than are common in existing homes, expanding the number of available bathrooms in which consumers can install organization products,” Freedonia said. “The number of bathrooms per home continues to tick up, and this growth will be boosted, at least in the short-term, by a rise in the number of households looking for single-family rather than multifamily living situations.”

Design trends favoring large tubs and showers will also encourage consumers to better organize their bathroom storage, the research firm added, pointing to growth for bins, baskets, and totes, as well as shelving, modular units, hanging storage, accessories and hardware.

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Corsi Group Changes Ownership

Corsi Group Changes Ownership

INDIANAPOLIS, IN – The Corsi Group announces the transfer of company ownership from Pat Corsi, who founded the company in 1973, to Mark Earl. Corsi will serve as an advisor to The Corsi Group during the transition. The transfer was effective on August 31.

Pat Corsi, founder of The Corsi Group, stated, “It has been my great pleasure and an honor to work with some of the finest employees, suppliers, reps, dealers and designers in the cabinet industry for the past 48 years. I know Mark will take the company to new heights, and I have every confidence that the management team will work well with his process-oriented approach.”

Earl, incoming CEO, added, “I look forward to working with the Corsi management team, and helping grow this terrific group of premium brands. Pat has built a strong company, and I want to continue to build on his legacy.”

Earl is a strategic leader with deep experience in product development, strategic marketing, finance, sales and marketing, and operations, noted The Corsi Group. He has led companies from $20 million to $150 million in annual revenue. Most recently, he served as senior v.p., Americas for Nokian Tyres, a global tire manufacturer.

Terms of the sale will not be disclosed.

The Corsi Group has been building custom cabinetry for 48 years. The company’s two brands, Greenfield Cabinetry and Siteline Cabinetry, are distributed nationally to about 500 dealer/designers. All cabinets are built in the company’s two plants, located in Indianapolis, IN and Elkins, WV.

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