Home builders react to starts data
“The vast majority of builders in this country operate small, single-family home-building firms, and they are struggling to obtain acquisition, development and construction financing that will enable them to meet the current level of buyer demand and put more Americans back to work,” said Bob Jones, chairman of the NAHB and a home builder from Bloomfield Hills, Mich.
“The housing market has been in a holding pattern as the economy stalled in the second and third quarters. Construction activity returned to pre-home buyers tax credit levels in August, as builders replaced sold single-family homes and begin replenishing apartment building supply after a three-year steady decline in multi-family construction,” said NAHB chief economist David Crowe.
“Consumer uncertainty about the economy, the poor job market and the large number of foreclosed properties for sale continue to be a drag on housing. However, favorable home-buying conditions should help spur additional demand as the job market gradually improves later this year,” he added.
Most of the gain in housing production in August was due to a 32.2% jump to 160,000 units on the more volatile multi-family side.
No surprise: Top 500 sales decline
For most retailers appearing on the 2010 Annual Top 500 Retailer Scoreboard, it was a year to put in the rearview mirrors. Still 57 companies showed a sales increase.
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Surviving the Storm
Waiting for housing starts to turn around and waiting for remodeling projects to kick into gear, companies on the Top 350 Pro Dealer Scoreboard are looking for profitable pursuits. A rare few are finding them.
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