Single-family production is running at a weakened pace due elevated mortgage rates and high construction costs that have led to a major slowing of the housing market and exacerbated housing affordability.
Tom Pendley, president of Mannington Commercial, will assume the transitional role of Chief Operating Officer (COO), with the plans for him to assume the role of president and CEO upon Grizzle’s retirement.
The 24,000-square-foot structure conceived with a heavy focus on sustainability and the environment and the building is one of the greenest buildings in the State of Connecticut.
Janelle Minghine has been named group publisher of BNP Media's flooring and stone groups. She will oversee the digital platforms for Floor Trends, Floor Covering Installer, Stone World, Tile and Contemporary Stone & Tile Design.
In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability.