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Rising mortgage rates push affordability to historic lows

Floor Covering News

For the 12th straight quarter, Los Angeles-Long Beach-Glendale, Calif., remained the nation’s least affordable major housing market. There, just 2.7% of the homes sold during the third quarter were affordable to families earning the area’s median income of $98,200.

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Housing affordability declines in Q2

Floor Covering News

The least affordable markets in Q2 For the 11th straight quarter, Los Angeles-Long Beach-Glendale, Calif., remained the nation’s least affordable major housing market. There, just 3.2% of the homes sold during the second quarter were affordable to families earning the area’s median income of $97,500.

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NFA members extol benefits of event’s format

Floor Covering News

For vendors, it is that rare opportunity to hobnob with 43 of the most influential flooring retailers in the industry over four hours. Larry Flick of The Floor Store (left), discusses product with Kris Flaherty of Flooringlines. “The Rose Carpets & Flooring, with three Massachusetts locations, agreed.

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Housing affordability drops to 10 year low

Floor Covering News

For the fifth straight quarter, Los Angeles-Long Beach-Glendale, Calif. Top five least affordable major housing markets—all located in California: Los Angeles-Long Beach-Glendale. The post Housing affordability drops to 10 year low appeared first on Floor Covering News.

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NAHB: Housing affordability holds steady

Floor Covering News

For the fourth straight quarter, Los Angeles-Long Beach-Glendale, Calif., Top five least affordable major housing markets, according to NAHB—all located in California: Los Angeles-Long Beach-Glendale. The post NAHB: Housing affordability holds steady appeared first on Floor Covering News.

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Port congestion issues likely to persist in 2022

Floor Covering News

But this bottleneck is old news for the flooring industry, which has been dealing with it in earnest since the outset of the COVID-19 pandemic. In September, the average wait time to reach a berth in Los Angeles (30-day rolling average) rose to an all-time high of nine days. And it has only gotten worse.

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Freight woes force dealers to adjust on the fly

Floor Covering News

By Ken Ryan The California ports of Los Angeles and Long Beach have been overburdened by container imports over the last few months, resulting in a logjam of freight that has led to product shortages and delays for flooring retailers, mostly in the LVT category. From his location in Anaheim, Calif.,