New-home sales show double-digit drop
Sales of new single-family houses in January 2011 were at a seasonally adjusted annual rate of 284,000, according to estimates released jointly Thursday by the U.S. Census Bureau and the Department of Housing and Urban Development.
The pace is 12.6% below the revised December rate of 325,000. January sales were 18.6% below the January 2010 estimate of 349,000.
The median sales price of new houses sold in January 2011 was $230,600; the average sales price was $260,300. The seasonally adjusted estimate of new houses for sale at the end of January was 188,000. This represents a supply of 7.9 months at the current sales rate.
Thursday’s report from the Commerce Department was far less optimistic than the existing-home sales report issued the day prior by the National Association of Realtors (NAR). In it, the NAR estimated existing-home sales were up 2.7% compared with last month and up 5.3% compared with last year.
East Coast Tile and StonePeak Ceramics sign deal
East Coast Tile Group signed an exclusive master distribution arrangement with StonePeak Ceramics in the eastern United States.
Under terms of the deal, East Coast Tile divisions Best Tile and Tile America will use their infrastructure to supply commercial-grade porcelain tiles to customers and prospects in the states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, Pennsylvania, Maryland, District of Columbia, Virginia, North Carolina and South Carolina.
Made in America at StonePeak’s facility with a strong commitment to produce sustainable, environmentally friendly porcelain tile, StonePeak porcelains offer Best Tile and Tile America customers highly marketable tile materials.
“StonePeak Ceramics is a recognized leader in the production of green, sustainable porcelain tile in the U.S.,” said Ben Mednick, VP of East Coast Tile. “It’s a brand that has proven to be very well received by the architectural and design communities."
Healthy Home Diagnostics names general manager
Joel Key has joined Raleigh, N.C.-based Healthy Home Diagnostics (HHD) as general manager of the indoor air quality solution company.
Key brings to the company 20 years of experience as an HVAC, plumbing and refrigeration contractor and 13 years of experience as a state-licensed contractor. He developed a pilot training program for weatherization technicians that lead to the state-approved training procedure used in North Carolina.
“We are pleased to have Joel join with Healthy Home Diagnostics as our general manager,” said Scott Logue, president of HHD. “His wide range of achievements and extensive industry knowledge are excellent assets to our company.”