Existing Home Sales Fall To Lowest Pace Since February 2016

Aug 22, 2018

Sales of existing homes dropped 0.7 percent in July to a seasonally adjusted annual rate of 5.34 million, subsiding for the fourth consecutive month and reaching their lowest pace since February 2016, according to the National Association of Realtors (NAR).

Increasing home prices continue to be an issue for would-be homeowners, according to NAR Chief Economist Lawrence Yun.

The median existing-home price of $269,600 is up 4.5 percent compared with July 2017.

The West was the only region to see any growth in sales during the month, rising 4.4 percent from June. Sales in the Northeast, Midwest and South dropped 8.3 percent, 1.6 percent and 0.4 percent, respectively.

Households Earning $75,000 a Year Can Afford Only 21.2% of Home Listings

May 19, 2025

Festool’s ETSC 2 125/150 Cordless Random Orbit Sander

Festool Releases Cordless Random Orbit Sander

Households Earning $75,000 a Year Can Afford Only 21.2% of Home Listings

Zillow: Pending Sales Down, New Listings Increase

Schönox Hosts Porsche Track Experience for Customers

Festool Releases Cordless Random Orbit Sander

Festool’s ETSC 2 125/150 Cordless Random Orbit Sander is battery-powered and includes a built-in LED light and dust collection bag.

Festool’s ETSC 2 125/150 Cordless Random Orbit Sander

Households Earning $75,000 a Year Can Afford Only 21.2% of Home Listings

U.S. households earning $75,000 a year can afford only 21.2% of home listings as of March 2025—up from 20.8% in March 2024 and the largest gain of any income group, according to the National Association of Realtors.

Zillow: Pending Sales Down, New Listings Increase

Newly pending sales in April fell 2.5% compared with April 2024 as economic uncertainty is causing some buyers to hesitate, according to a market report from Zillow.

Schönox Hosts Porsche Track Experience for Customers

Schönox held its Porsche Track Experience at Barber Motorsports Park in Birmingham, Ala., that brought together over 30 of its customers to drive Porsche sports cars and build industry relationships.

Construction Materials Prices Down 0.1% in April

Construction material prices decreased 0.1% from March to April and were 0.1% higher than in April 2024, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data.

Builder Confidence Down Six Points in May

Builder confidence for newly built single-family homes increased to 34 in May, down six points from April, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

Single-Family Housing Starts Decreased 2.1% in April

Single-family housing starts decreased 2.1% from March to April to a seasonally adjusted annual rate of 927,000 units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

PC Floors Opens Store in Allentown, Pa.

Flooring supply wholesaler PC Floors has opened its ninth store at a new location in Allentown, Pa., at 7277 William Ave.

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Milwaukee Tool Releases M18 Fuel 9-Gallon Dual-Battery Dust Extractor

Milwaukee Tool’s M18 Fuel 9-gallon dual-battery Dust Extractor features high sustained air flow, versatile power for all-day productivity and integration with Vaclink Wireless Dust Control, the company says.

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ABC: Contractors’ Backlog Hit 20-Month High in April

Associated Builders and Contractors’ Construction Backlog Indicator rose to a 20-month high of 8.7 months in April, up 0.3 months since April 2024.

Check Out These Stories From Wood Floor Pros Who Persevered

The road to being a successful wood flooring pro is often filled with obstacles and challenges, but these pros persevered. Read the stories they shared:

Small Business Optimism Fell 1.6 Points in April

Small business optimism fell 1.6 points in April to 95.8, the second consecutive month below the 51-year average of 98.8, according to the National Federation of Independent Business’ Small Business Optimism Index report.

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