Housing starts drop 9.3% in June
Housing starts dropped for the second month in a row in June, this time even more sharply — at a seasonally adjusted annual rate of 893,000, starts were down 9.3% from May’s downwardly revised rate of 985,000.
The decrease rode almost entirely on the back of the southern United States, which dropped 29.6% since May. Every other region of the country posted increases, led by a 28.1% gain in the Midwest.
Despite the surprisingly steep drop, June’s starts were still a 7.5% improvement over last year’s rate of 831,000.
In terms of single-family starts, a rate of 575,000 registered a 9.0% drop from May’s revised figure of 632,000.
Building permits also fell, but not as much. Privately owned housing units authorized by building permits clocked in at a seasonally adjusted annual rate of 963,000, 4.2% below May’s rate and 2.7% above June 2013’s estimate.
Matt Hocutt named national sales manager at Iron Doors Unlimited
Loudon, Tennessee-based Iron Doors Unlimited has named Matt Hocutt as its newest national sales manager, effective July 7.
Hocutt will be leading the company’s sales team in his new position, driving go to market sales and execution strategies for driving growth in the company’s trade, retail and wholesale channels.
"In my sales roles in the hardware industry, I have worked with many iron doors companies over the years," said Hocutt. "I have watched many unfortunately disappoint their customers, fail to deliver and simply come and go. Iron Doors Unlimited is the company I have been waiting for — the one with the passion for excellence, the drive to satisfy customers, and the requisite capacity to deliver for the long haul to powerfully impact the market."
In his most recent role, Hocutt served as VP sales for Weslock, where he oversaw sales management for the U.S. and Canada and is credited for driving growth.
He has over 15 years of experience in the building industry in various senior sales management roles. His resume also includes stints at Castle Entries, a wrought iron door company. He also started a shower glass door installation company as a teenager.