New orders in October 2018 rose 7% over October in 2017, according to Smith Leonard’s latest survey of residential furniture suppliers.
Numerous factors have converged to create a housing shortage in the U.S., one of which is the lack of construction labor.
Housing inventories across both rentals and homes for sale continue to decline well after the recession, according to data from the U.S. Census Bureau’s Current Population Survey/ Housing Vacancy Survey.
Hooker Furniture (NASDAQ: HOFT) has reported consolidated net sales of $171.5 million, an increase of $13.5 million, or 8.6% compared to a year ago, for its fiscal 2019 third quarter ended October 28, 2018.
Lifestyle brand Abbyson, a resource for upholstery, casegoods and accessories, has announced successful Black Friday and Cyber Monday sales last month, increasing sales volume 66 percent over 2017 and recording more than 20,000 shipments during the holiday weekend.
Low housing inventories and rising home prices and rental rates are locking out new home buyers and stymieing moves at a time when the economy is growing and employment is high.
Internet sales of all consumer products from all retail types of outlets, whether brick and mortar or e-commerce companies, are estimated to have reached $437.5 billion in 2017, according to data from the U.S. Census Bureau and the proprietary market model from Impact Consulting, parent company of Home Furnishings Business.