For November 2015, sales of new single-family houses were at a seasonally adjusted annual rate of 490,000 according to the U.S Census Bureau and the Department of Housing and Urban Development. This is a 9.1% increase from November 2014 and 4.3% above the revised October rate of 470,000.
According to the U.S Census Bureau of the Department of Commerce construction spending during November 2015 was at a seasonally adjusted rate of $1,122.5 billion, a 0.4% decrease from the revised October 2015 estimate of $1,127.0 billion and a 10.5% increase from the November 2014 estimate of $1,016.1 billion.
Private construction spending was at a seasonally adjusted rate of $828.2 billion with residential construction at $427.9 billion and nonresidential construction at $400.3 billion.
During the first 11 months of 2015, construction spending within the U.S amounted to $1,011.9 billion which is 10.7% above the same period in 2014.
As 2015 comes to an end, we wanted the year to end with a bang by adding two new designs to our 3D thermal foils collection. Synergy Thermal Foil’s Soprano and Baroque wood grain match Flakeboard’s Soprano WF341 and Baroque WF204 respectively. These two designs will be sure to have your customers singing your praises.
Baroque
Soprano
According to the U.S Census Bureau of the Department of Commerce spending on construction during October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion, a 1% above the revised September estimate of $1,096.6 billion. The October 2015 figure is 13% above the October 2014 estimate of $979.6 billion.
During the first 10 months of this year, construction spending has increased 10.7% ($888.1 billion) from 2014 ($802.3 billion) during the same period. Residential construction is at a seasonally adjusted rate of $399.0 billion in October 2015, a 1% increase from the revised September estimate of $395.5 billion.
Sales of new single-family houses in October 2015 were at a seasonally adjusted annual rate of 495,000, according to the U.S Census Bureau and the Department of Housing and Urban Development. The adjusted rate for October 2015 is 10.7% above the revised September rate of 447,000 and is 4.9% above the October 2014 estimate of 472,000.0
Canadian’s Will Not Forget Synergy Thermal Foils
We introduced new designs that you cannot forget for our second showing at Canada’s largest woodworking event, the Woodworking Machinery & Supply Expo (WMS) held at the International Centre in Toronto.
Attendees flocked to our booth where we showcased some of our newest additions to our 3D Laminate collection. Our biggest hit was Memento, a perfect match to Uniboard’s Memento (H76). It caught the eye of everyone who walked by; even our colleagues at Uniboard stopped by multiple times to admire our display of Memento.
Other designs that were showcased at this year’s WMS were Brown Pear and Grey Pear matching Formica’s Espresso Pear (F5489) and Smokey Brown Pear (F5844) respectively. For those with a sweet tooth we expanded our line of chocolates, Milk Chocolate being our latest addition alongside White Chocolate and Dark Chocolate match Tafisa’s Milk Chocolate (L493), White Chocolate (L492) and Dark Chocolate (L494). Music lovers rejoiced when they saw our Soprano and Baroque matching Flakeboard’s Soprano (WF341) and Baroque (WF204).
This year’s WMS Expo was a huge success with nearly 4,000 attendees and 1,400 registered exhibitors. Synergy Thermal Foils had the opportunity to strengthen our connections with Canadian manufacturers of cabinets, closets, store fixtures, commercial interiors and more. This year’s WMS was one for the books and we are excited to see what WMS 2017 will bring us.
Last month we introduced Brown Pear to our 3D Laminate collection and this month we are adding yet another match to Formica’s Woods Collection. Synergy Thermal Foil’s Grey Pear pairs well with Formica’s Smokey Brown Pear (F5844). Recent kitchen design trends have shifted from a traditional look to utilizing more grey tones and our Grey Pear is a perfect fit bound to leave every customer satisfied.
The housing market has continued on an upward trend since the 2008 housing crisis. The National Association of Home Builders (NAHB) is projecting single-family housing starts to increase 11% to 719,000 in 2015 over 2014. In 2016, production is expected to rise 27% to 914,000 new housing starts. The NAHB associates these increases to steady employment and economic growth along with attractive mortgage rates.
“This recovery is all about jobs,” said NAHB Chief Economist David Crowe. “If people can get good jobs that pay decent incomes, the housing market will continue to move forward.”
However there are several factors that are hindering a more vigorous recovery. According to a NAHB survey of its members, 13% of builders reported cost and availability of labor as a significant problem in 2011 and that concern jumped to 61% in 2014. One-fifth of builders shared similar concerns regarding lots in 2001 and the increased dramatically to 61% in 2014. The increase in building material costs also remains a concern at 58% of those surveyed in 2014 compared to 33% in 2011.
The production of multi-family housing unfortunately has not had the same predicted growth as the single-family housing starts. With the production of multi-family units expected to increase 9% to 387,000 units this year but to have a 3% decline to 378,000 units in 2016.
As a whole, the U.S housing market has steadily improved however improvement pace has varied by region. The most successful recoveries are happening in North Dakota, Wyoming, Texas, Montana and Louisana. Other states exhibiting signs of strong employment and housing growth include South Carolina, Utah, Tennessee, Idaho, Oregon and North Carolina. While the improvement for states such as California, Arizona, Nevada, Florida and the industrial Midwest have been more difficult due to excessive price and production spikes during the 2008 crisis.
“We’ve gotten to the point in the recovery where we no longer have problems that came with the housing bust,” said NAHB Senior Economist Robert Denk. “It now is really a matter of housing markets reconnecting to the fundamental drivers, and that is employment.
Source: NAHB
According to the US Census Bureau and the Department of Housing and Urban Development the sale of new single-family houses were at a seasonally adjusted annual rate of 468,000 for September 2015. This is 11.5% decrease from the revised August 2015 rate of 529,000 but it is a 2% increase from the September 2014 estimate of 459,000.
For more information please visit: US Census Bureau
Exciting things are happening at Synergy Thermal Foils, and we want to share some important news with you. Loyalty from customers like you has fueled continued growth, making a move to a new, larger facility necessary.Our move was not very far but it has allowed us to increase the the stock of your favorite STF designs and expand our current collection line. Please make note of our new unit number. Our office phone and fax numbers will remain the same. If you have any questions or concerns please contact the office at 954-420-9553 or by emailing info@synergythermofoils.com .
1673 SW 1st Way
Unit 4
Deerfield Beach, FL 33441
Synergy Thermal Foils, booth 1178, will showcase Memento, Milk Chocolate, Brown Pear and many other new colors. If you haven’t seen our new line-up, please stop by or check back to our website for updates. If you need an entrance pass for the WMS expo please contact promotions@synergythermofoils.com for complimentary tickets.
Synergy Thermal Foils is always looking to add beautiful 3D laminates to our collections that can be paired with major melamine and high pressure laminates and our latest addition is no exception. Brown Pear is an exceptional match to Formica’s Espresso Pear (F5489). This contemporary design would bring a modern touch to any household and pairs well with white accent pieces and stainless steel appliances.