New-home sales rise in April
Sales of new single-family houses in April 2011 rose 7.3%, according to the U.S. Commerce Department, to an adjusted annual rate of 323,000. This increase over March’s figure of 301,000 units is still below April of 2010, when the estimated number of home sales was 420,000.
The median sales price of new houses sold in April 2011 was $217,900.
The nationwide inventory of new houses for sale at the end of April was 175,000 — a new record low, according to the National Association of Home Builders (NAHB). This represents a supply of 6.5 months at the current sales rate, according to the federal government.
Ames True Temper, Clopay combine under new exec
Griffon Corp., a diversified management and holding company, has named Eugene (Gene) Colleran as the new CEO of Ames True Temper and the new president of its home and building products division.
Griffon also announced that Ames True Temper and Clopay Building Products will both become part of the home and building products division and report to Colleran. Clopay is a manufacturer of garage doors for both the residential and commercial markets.
Duane Greenly, the former CEO of Ames True Temper, is retiring after nine years with the lawn and garden tool maker, the last three as CEO.
Colleran had been head of Clopay Building Products for the last 11 years. Prior to joining Clopay, Colleran spent nine years with Newell Co., most recently as president of BernzOmatic, a leading manufacturer of gas-powered hand torches. Prior to Newell, he spent nine years in various sales and marketing management roles with Chicago-based United States Gypsum.
KB Home names senior VP marketing
Los Angeles-based KB Home has named Tom Silk senior VP marketing and communications. Silk will be responsible for the home builder’s marketing, advertising, communications and social media outreach across its U.S. home-building operations.
"We are pleased that Tom has joined KB Home as a member of our executive team," said Jeffrey Mezger, president and CEO of KB Home. "I believe having someone of Tom’s caliber and expertise in this important role will help us to connect with consumers on a new level."
Most recently, Silk was VP marketing for hydration brands at PepsiCo Beverages Americas. Previously, he led global marketing efforts for the Guitar Hero and Call of Duty franchises at Activision-Blizzard. He also served as a brand marketer at The Clorox Co., and began his career as an officer in the U.S. Navy.