According to a new report by the Harvard Joint Center for Housing Studies, the surge in the prices of gas, food, and other necessities are affecting housing affordability, especially now that most pandemic emergency government supports have ended.

The Global Flooring Alliance reports that members are still seeing positive sales growth, profit and margins are under pressure. 

Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. 

Strong demand is still keeping multifamily developers fairly optimistic in many parts of the country, but high construction costs and their impact on affordability are making some developers increasingly cautious, NAHB said. 

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for March 2022.

Pending home sales dropped in March, signifying five straight months that contract activity has declined, according to the National Association of Realtors.

The spike in firm billings in March may reflect a desire to beat the continued interest rate hikes expected in the coming months, according to AIA Chief Economist Kermit Baker, Hon. AIA, PhD. 

In an effort to reduce supply chain issues, improve customer service and control costs, many flooring manufacturers are making investments in LVT in domestic manufacturing, and leaders of the major flooring manufacturers say the trend isn’t going anywhere soon.

Existing-home sales rose in November, denoting three consecutive months of increases, according to the National Association of Realtors. Three of the four major U.S. regions reported growth in monthly sales, while the fourth region held steady in November.