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Jun 26, 2024 / The Right News Right When It Happens

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Architecture Billings Declined to 42.4 in May

Washington, DC, June 26, 2024-The American Institute of Architects (AIA) Architecture Billings Index (ABI) score declined to 42.4 in May, as more firms reported a decrease in billings than the month prior.

Today's Flooring News

New-Home Sales Declined 11.3% in May

Washington, DC, June 26, 2024—Sales of new single-family houses in May 2024 were at a seasonally adjusted annual rate of 619,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 11.3% below the revised April rate of 698,000 and 16.5% below the May 2023 estimate of 741,000.

Nourison Home Acquires J Mish Mills

Saddle Brook, NJ, June 26, 2024-Nourison Home has purchased J Mish Mills, a carpet manufacturer that specializes in wool floorcoverings that offer modern, unique and classic designs through applied patterns.

SCI Flooring Acquires Carpetbaggers, Inc.

Seattle, WA, June 26, 2024—SCI Flooring, owned by Rainier Partners has announced its second add-on acquisition, Carpetbaggers, Inc.

Private Equity Firm KKR Invests $2.1 Billion in Multifamily Market

New York, NY, June 26, 2024—"KKR has completed its largest-ever purchase of apartment buildings, the latest in a string of big-ticket deals, signaling that some of the most prominent investment firms are betting on a broad rebound for multifamily housing,” reports the Wall Street Journal.

Chinese Container Rates Have Risen 112% Since November

Hamburg, DE, June 26, 2024— Container xChange has shared the following update on the container shipping industry:

Mortgage Applications Rose 0.8% in Week Ending June 21

Washington, DC, June 26, 2024—Mortgage applications increased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 21, 2024.