Floordaily

Sep 28, 2022 / The Right News Right When It Happens

Top Story

Pending Home Sales Declined 2% in August

Washington, DC, September 28, 2022—The Pending Home Sales Index fell 2.0% to 88.4 in August, according to the National Association of Realtors. Year-over-year, pending transactions dwindled by 24.2%. An index of 100 is equal to the level of contract activity in 2001.

Today's Flooring News

NWFA Program Identifies Engineered Wood Flooring That Is Refinishable

St. Louis, MO, September 28, 2022-The National Wood Flooring Association (NWFA) has launched the NWFA Engineered Wood Flooring Refinishable Program, which identifies engineered wood flooring products with wearlayers thick enough to be sanded and refinished.

Soft Lumber Prices Fall to Pre-Pandemic Rate

New York, NY, September 28, 2022-"Lumber prices have fallen to their lowest level in more than two years, bringing two-by-fours back to what they cost before the pandemic building boom and pointing to a sharp slowdown in construction,” according to the Wall Street Journal.

Ownership of Mercier Passes to a New Generation

Montmagny, Quebec, September 28, 2022-As of May 27, Sébastien Mercier and Jean-Philippe Dumas, sons of Richard Mercier and Marielle Mercier, respectively, officially took over from their parents as the new business owners of Mercier Wood Flooring.

China's Yuan Hits Weakest Level Against Dollar in 14 Years

New York, NY, September 28, 2022—"China’s central bank warned market participants against speculating on the yuan, after the currency slid to its weakest level against the dollar in more than 14 years and hit a record low in international trading,” according to the Wall Street Journal.

Mortgage Applications Declined 3.7% in Week Ending September 23

Washington, DC, September 28, 2022—Mortgage applications decreased 3.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 23, 2022.