New home sales bounce to a pace of 300,000
New home sales in March increased to a seasonally adjusted annual rate of 300,000, according to data released today by the Department of Commerce.
The new residential sales activity is 11.1% ahead of the upwardly revised February rate of 270,000, but it is down 21.9% from the March 2010 pace of 384,000.
While still at historical lows, March’s pace of new home sales was higher than the 280,000 rate predicted by analysts.
The government also reported this morning that the median sales price of new houses sold in March was $213,800; and the average sales price was $246,800. The seasonally adjusted estimate of new houses for sale at the end of March was 183,000. This represents a supply of 7.3 months at the current sales rate.
No comments found
Home Depot Canada to ban pets from stores
After a customer’s dog bit a store employee, Home Depot Canada will ban pets from entering its stores effective May 16.
The Ottawa Citizen reported that a greeter in Gloucester who bent down to pat a dog in a customer’s shopping cart was bitten in the nose.
The pet ban will be similar to the policy in the United States, where pets are banned, except for certified guide dogs. Customers who bring pets into Home Depot stores across Canada in the coming weeks will be advised of the pending change by store personnel, according to the report.
Please don't classify me as a
Please don't classify me as a non-pet lover - but the Home Depot or any hardware store is no place for dogs, unless of course it IS a service animal. I, for one, am not fond of seeing Spike or FiFi in the cart at the check-out line. While your yip yip pooch may be cute...... There are those of us who are highly allergic to animals and wish the owners would be as tolerant as those of us who tolerate the critters. Leave 'em at home. Thank you Home Depot.
Kitchen and bath industry rolls into Vegas
The Kitchen & Bath Industry Show (KBIS) is expecting to draw some 40,000 attendees to Las Vegas April 26 to 28.
The 48th annual event from the National Kitchen & Bath Association (NKBA) will feature a broader array of offerings, the latest in trends and technology, and more opportunities to collaborate with peers and exhibitors, according to the NKBA.
In a pre-show promotional video, Masco Cabinetry President Karen Strauss offered some words of encouragement to the industry facing a difficult environment. "Recessions do end," she said. "The kitchen is still the heart of the home, and consumers will come back to that."
While kitchen and bath sales are down 30% since 2006, cabinetry remains a $9 billion business, she said. And there is opportunity in those billions.
The NKBA members have changed the way they do business in response to market challenges, said Dave Alderman, president of the NKBA. “Our goal at KBIS is to make sure we provide the most up-to-date tools and trends to help them stay successful,” he said.
No comments found