HIGH POINT, N.C. — New residential furniture orders rose 3% in June, compared to the same period in 2024, according to the August issue of Furniture Insights. However, new orders were down 9% compared to May figures, according to Mark Laferriere, assurance partner at Smith Leonard, the accounting and consulting firm that produces the monthly report. Approximately 55% of participants reported increases versus decreases in June compared to a year ago, he said.

New residential furniture orders are now down 2% for the year-to-date, compared to last year.

June shipments were down 4% compared to 2024 figures, with 55% of survey participants reporting decreases compared to the year prior, Laferriere noted. June shipments were down 2% compared to May. and remain down 1% for the year-to-date compared to 2024 figures. June backlogs were down 8% compared to 2024, and down 2% from May 2025.

Receivable levels were down 2% from May, and down 6% from June 2024, "both materially in line with related shipment trends," Laferriere noted. Inventories were down 2% compared to May but up 2% from June 2024, "which are materially in line with prior periods and current operational levels," he added. 

On a seasonally adjusted basis, sales at furniture and home furnishings stores in July were up 1.4% compared to June, and up 5.1% from July 2024. Year to date on a non-adjusted basis, sales were up 5.7%, according to the August Furniture Insights.

"Those of us who thought the industry had received some level of clarity on tariffs after months of uncertainty were dealt a surprise this month with the doubling of India tariffs to 50%, the elimination of the $800 deminimis import exception, a delay in finalizing China rates, and most significantly the announcement of potential additional furniture-specific tariffs following a 50-day investigation into the industry," Laferriere commented. "Taken together, this will clearly create a new round of disruption for an industry looking for certainty and normalcy."

While the decline in consumer confidence, "positive trends with employment, consumer spending, stock markets, and GDP continue to persist in spite of various challenges. And as the Fed continues to take a wait and see approach to inflation despite immense pressure to cut rates in its upcoming September meeting, it’s difficult to determine how any nominal cuts would impact housing in the near-term before ultimately trickling down in the form of new orders and revenues."

He continued, "With the two-month lag in our reporting period, we’re now halfway through the year, which coupled with this month’s news, may make it tough for the industry to make meaningful gains for 2025 as a whole. However, successful companies will prioritize their relationships with employees and customers and proactively control what they can control to take advantage of available opportunities."