Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released June 17.
The National Association of Realtors says existing home sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.
Providing confirmation that a housing recovery is underway, sales of newly built, single-family homes set a record pace in more than two years, rising 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September, according to figures from HUD and the U.S. Census Bureau.
Flexsteel Industries, Inc. today reported net sales of $91.2 million, a 12% increase for the first quarter ended Sept. 30, 2012 as compared to the prior year first quarter. Residential net sales were $72.3 million in the current quarter, an increase of 16% from the prior year quarter of $62.5 million.
Home remodeling activity will continue growing into the first half of 2013, with money spent on home improvements projected to reach double-digit growth, according to the Leading Indicator of Remodeling Activity (LIRA).