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From Home Furnishing Business

Fast Fact: Majority of Homeownership Narrows to Families

After a rise in renter-occupied housing due to the Great Recession, data from the U.S. Census Bureau’s 2017 American Community Survey explores the changing profiles of both owners and renters. 

Fast Fact: In 2017, Half of Renters Above 25 Were 45 and Over

Fast FactThe Great Recession was a catalyst for many households choosing to rent versus buying a home. Now safely past the recession, data from the U.S. Census Bureau shows that the appeal of renting has not slowed down.

Smith Leonard: Furniture orders Down 3% in March

As somewhat expected, new orders dropped 3% in March from March 2018, according to a report by Smith Leonard accounting and consulting firm. This decline reduced year-to-date new orders to a flat rate for the full first quarter. 

Fast Fact: Renter-occupied Housing Units Jump 9.3% in 7 Years

Beginning with the Great Recession, the U.S. has seen a shift between homeowner and renters. Data from the U.S. Census Bureau’s 2017 American Community Survey shows renter-occupied housing is at its highest level in almost 50 years (36.2 percent of households) and up 9.3 percent 2010 to 2017. This compares to owner-occupied housing only increasing by 2.4 percent.

Fast Fact: Furniture Stores, Sales Per Store Jump 52.6% from 2009 to 2018

During the post-recession recovery period from 2012 forward, all furniture and home furnishings distribution channels grew in sales, despite store closings, with the exception of electronics and appliance stores and department stores, according to data from the U.S. Census Bureau.

Fast Fact: Furniture Stores, Closings <1% Annually Since 2012 

The U.S. became over-stored in many channels during the 1990’s and early 2000’s, resulting in many store fronts closing during and after the Great Recession, according to data from the U.S. Bureau of Labor Statistics

Fast Fact: Furniture Store Fronts Dropped 20%, 2007 to 2018

Over the last ten years, dramatic shifts in the furniture industry’s distribution channels has greatly affected retail in-store counts, according to data from the U.S. Bureau of Labor Statistics.

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