Slowdown seen in new-home sales
Sales of newly built, single-family homes declined 8.4% in June 2012 compared with the previous month, reaching an annual rate of 350,000 units, according to figures from the U.S. Census Bureau.
The bad news follows similar numbers from the National Association of Realtors, which reported last week that completed sales transactions of single-family homes, townhomes, condominiums and co-ops declined 5.4% in June 2012 compared with May.
Both agencies saw year-over-year improvements, however. June’s sales were 16% higher than they were in June 2011, according to the latest report from the Census Bureau.
"While we would have liked to see a third consecutive month of new-home sales gains in June, the fact remains that the sales numbers are up on both a quarterly and yearly basis, while builders continue to report that they are seeing more serious buyers in the market for a newly constructed home with all of the latest updates," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla.
On a regional basis, new-home sales gained 14.6% in the Midwest and 2.1% in the West, but fell 8.6% in the South and 60% in the Northeast in June.
IHS Global Insight attributed the overall sales decrease mostly on the “hard-to-understand sales plunge in the Northeast that may just be a bad reading.” Which is one of several reasons why the economic and financial advisory firm takes the longer view on housing data. “We prefer looking at moving averages or quarterly figures, since these estimates iron out volatility and highlights trends,” wrote economists Patrick Newport and Michele Valverde.
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GAF to open new shingle plant
GAF, one of North America’s largest roofing manufacturers, has announced plans to open a new asphalt roofing shingle manufacturing facility in eastern Missouri or southern Illinois, with an anticipated start-up in 2015.
Following the commencement of operations, GAF will own and operate 14 shingle plants in the United States. The new state-of-the art facility will further expand GAF product distribution to customers located throughout the central region of the United States. The facility is expected to employ more than 80 people.
Based in Wayne, N.J., GAF’s products include a comprehensive portfolio of steep-slope and commercial roofing systems, which are supported by an extensive national network of factory-certified contractors.
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Many of the most respected
Many of the most respected contractors include residential roof warranties that may or may not cover all damage to your roof. As such, it is important to speak to your roofing contractor about the warranty they offer, how long the warranty covers your roof, and what types of repairs are included in the warranty. roofers chester
BMC named Pro Dealer of the Year for 2012
Bolstered by rising revenues and a successful, ongoing turnaround effort, Boise, Idaho-based BMC has been named the 2012 Pro Dealer of the Year by Home Channel News.
BMC will accept the 2012 Pro Dealer of the Year award during the Oct. 24 to 26 ProDealer Industry Summit in Savannah, Ga. The event is hosted jointly by the National Lumber and Building Material Dealers Association and Home Channel News.
The Pro Dealer of the Year award is designed to recognize a high-performance company with a commitment to best practices and the best values of the lumber and building material industry. Past winners include Gaithersburg, Md.-based TW Perry (2011); New York City-based Marjam Supply (2010); and San Marcos, Texas-based McCoy’s Building Supply (2009).
“Home Channel News takes seriously its responsibility to maintain the high standard of the award, and we feel BMC is a great choice for 2012,” said Ken Clark, editor.
BMC has come a long way from its descent into financial restructuring in 2009. Among the credentials in BMC’s favor:
• Topline success during a difficult 2011: 7.4% sales increase and a top-10 ranking on the Top 200 Industry Scoreboard, along with 30% growth in the first half of 2012;
• A cutting-edge effort to stay ahead of the trends with sales force connectivity tools and applications throughout the organization;
• A palpably enthusiastic corporate culture, highlighted by a recent new strategy of annual national meetings; and
• Evidence of a successful balancing of large-chain buying power, with locally focused decision-making.
“It has been extremely rewarding for our team to go from a very tough time to the top of the leader board,” said CEO Peter Alexander. “Our nearly 4,500 team members are focused on serving our customers, and building on our financial and operational strength.
“Since service is our brand, we are constantly exploring innovative ways to stay ahead of the curve and be a good partner to our customers,” Alexander continued. "The BMC team is incredibly proud of HCN’s recognition of our efforts with the Pro Dealer of the Year award. It is all about having a solid plan, consistent pace and great people.”
Home Channel News and Homechannelnews.com are divisions of New York City-based publishing company Lebhar-Friedman, Inc.
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