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From Home Furnishing Business
FastFact: Furniture, Housing Sales Make Gains
October 19,
2015 by in Economic News 
Furniture and housing sales both crashed along with the economy in 2007, but the good news is that both segments are close to their pre-recession levels.
Furniture sales bottomed out in 2009 – dropping 17.4 percent from 2007 levels. Despite the 18.1 percent growth between 2009 and 2014, sales are still 2.5 percent shy of 2007 sales.
Existing home sales are back to pre-recession levels – up 1.9 percent from 2007. New home sales are taking longer to recover – down 33.4 percent, most likely due to low inventory and cautious homebuilders.
As Millennials age out of their late teens and early 20s, typically the renting years, and age into their 30s—the home buying years—over the next decade, a need for new homes will grow alongside a need for new furniture.
The complete FastFact is available online.