BMC expands its reach in greater Houston
Just one day after announcing the opening of a distribution center in Denver, BMC is at it again — this time with a new lumberyard in Houston.
BMC announced the opening of the Houston yard today, describing it as a boost to its Greater Houston capacity, which now extends to a 100-mile delivery radius.
“Houston, and the state of Texas, continue to lead the nation in demand for lumber, and we will continue to invest resources in the region that benefit our customers and deliver value,” said Peter Alexander, CEO of BMC. “This lumberyard is one example where our customers will reap the rewards of that investment as they realize increased service level, more capacity in the Houston area, quick response time and greater depth of inventory."
The new lumberyard, located at 7355 West Rd., will work with BMC’s Houston millwork operations — a 250,000-sq.-ft. facility and a 100,000-sq.-ft. facility that provide millwork distribution, manufacturing and custom millwork production.
Products carried at the lumberyard include: I-Joists and engineered wood products, dimensional framing lumber, panel products and job site construction supplies. Additionally, this facility can provide pre-manufactured roof trusses and custom-built timber trusses.
Houston market LBM manager Kyle Williams, an industry veteran with 29 years of experience all in Texas, will oversee the lumberyard.
April existing-home sales slip
Existing-home sales decreased 0.8% in April to a seasonally adjusted annual rate of 5.05 million from a downwardly revised 5.09 million in March, according to the National Association of Realtors. The April rate is 12.9% below a 5.80 million pace in April 2010; sales surged in April and May 2010 due to the home buyer tax credit.
“Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger,” said Lawrence Yun, NAR chief economist. “Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations.”
The national median existing-home price for all housing types was $163,700 in April, down 5% from April 2010. Distressed homes accounted for 37% of sales in April, down from 40% in March, but up from 33% in April 2010.
Total housing inventory at the end of April increased 9.9% to 3.87 million existing homes available for sale, which represents a 9.2-month supply at the current sales pace, up from an 8.3-month supply in March.
Single-family home sales dropped 0.5% to a seasonally adjusted annual rate of 4.42 million in April from 4.44 million in March, and are 12.6% below the 5.06 million-pace in April 2010. The median existing single-family home price was $163,200 in April, 5.4% below a year ago.
Existing condominium and co-op sales fell 3.1% to a seasonally adjusted annual rate of 630,000 in April from 650,000 in March, and are 15% below the 741,000-unit level one year ago. The median existing condo price was $167,300 in April, down 2.3% from April 2010.
Regionally, existing-home sales in the Northeast fell 7.5% to an annual pace of 740,000 in April and are 32.1% below a year-ago surge. In the Midwest, existing-home sales rose 5.7% to 1.12 million but are 16.4% below a cyclical peak in April 2010. In the South, existing-home sales declined 1% to an annual pace of 1.95 million in April and are 9.3% below a year ago. Existing-home sales in the West dropped 1.6% to an annual level of 1.24 million in April and are 0.8% below April 2010.
Beacon Roofing Supply expands in Canada
Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, has announced the acquisition of Enercon Products, a roofing distributor with six locations in western Canada. Headquartered in Edmonton, Enercon also has branches in Calgary, Regina and Saskatoon, along with two branches in Vancouver. It generated annual sales of approximately $45 million in 2010.
Justin Rumpel, who will remain as Enercon’s general manager after the acquisition, said: "We are very pleased to be joining Beacon as it expands its presence into western Canada. We are confident that Beacon will provide the resources and know-how needed to assist with our long-term growth plans.”
Paul Isabella, president and CEO of Beacon, emphasized the strategic fit of the Enercon acquisition in the announcement. "Enercon has a track record of strong performance and provides us with an excellent opportunity to expand into Western Canada, giving Beacon a presence in every major Canadian market,” he said.
Based in Peabody, Mass., Beacon operates 185 branches in 37 states and six provinces in Canada. Sales for its 2010 fiscal year were $1.61 billion.