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Jul 19, 2023 / The Right News Right When It Happens

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Architecture Billings Index Remained Positive at 50.1 in June

Washington, DC, July 19, 2023—The Architecture Billings Index (ABI) score of 50.1 for June indicates that billings at architecture firms remained steady as design activity continues to slowly recover from roiled economic conditions, according to the American Institute of Architects (AIA) and Deltek.

Today's Flooring News

Housing Starts Declined 8% in June

Washington, DC, July 19, 2023—Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,434,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 8.0% below the revised May estimate of 1,559,000 and is 8.1% below the June 2022 rate of 1,561,000.

Three New Members Join Fuse Alliance

Laguna Niguel, CA, July 19, 2023-Fuse Alliance, a member-owned organization of professional commercial flooring contractors, announced that Arnquist Flooring, Opler Flooring, and Red Commercial Flooring have joined the network as new members.

AIA Predicts Rapid Growth for Nonresidential Construction in Late '23

Washington, DC, July 19, 2023-The American Institute of Architect’s (AIA) Consensus Construction Forecast panel has optimistic projections for nonresidential building spending in late 2023 and beyond, and the news is generally positive-with a caveat.

Mortgage Applications Rose 1.1% in Week Ending July 14

Washington, DC, July 19, 2023—Mortgage applications increased 1.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 14, 2023.

Top-Tier Executives Resist Returning to Office Full Time

New York, NY, July 19, 2023-"An unexpected group of workers is leading the resistance to the five-day office week: top-tier executives,” reports the Wall Street Journal.

New Home Sales Booming with Existing Home Inventory Low

New York, NY, July 19, 2023—"After mortgage rates shot up last year, Ivory Homes, one of Utah’s largest builders, suddenly had few buyers for the hundreds of homes it had under construction. So Clark Ivory, the chief executive, laid off 9% of his staff, and by January he had slashed construction by nearly 80% from its 2022 peak,” reports the Wall Street Journal.

NAFCT Names Andy McWilliams Education Committee Chair

Gray Court, SC, July 19, 2023- The National Association of Floor Covering Technicians (NAFCT) is proud to announce the appointment of Andy McWilliams of Novalis U.S. as the education committee chairman.

Shaw to Host Coretec WPC Training on July 28

Dalton, GA, July 19, 2023-Coretec, Shaw Industries’ premium luxury vinyl brand, is hosting a one-hour WPC training on July 28 at 11:00 a.m. EDT.