Qualified Remodeler Magazine

MAR 2019

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: https://qualifiedremodeler.epubxp.com/i/1090915

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Page 11 of 70

QualifiedRemodeler.com March 2019 11 Entries in the Chrysalis Award and/or CotY Award digital formats are accepted. To learn more go to MasterDesignAwards.com. Consumer Trends Design trends research Online home goods retailer Wayfair recently released the results of its analysis of thou- sands of search trends in order to see how consumers are embracing new styles and designs as they renovate their kitchens and bathrooms. The latest trends include: Farmhouse frenzy: Searches for "farm- house" fixtures have quadrupled in the last year, with sales of farmhouse sinks alone nearly doubling year over year. Set in stone: Searches for concrete fur- niture and decor is up overall 50 per- cent year-over-year. Concrete sinks are unique, durable and versatile, and come in various sizes, styles and tones for a true statement piece in the kitchen. Black is the new chrome: Consumers are gravitating toward chic black and black matte finishes for faucets and sinks, with searches for these products tripling year-over-year. Many shades of gold: Gold-toned faucets and fixtures are growing in popularity. In addition, shoppers are exploring rose gold finishes to complement both classic and contemporary styles. Neat and tidy: Floating vanities have doubled in popularity in the last year, as shoppers seek space-saving options that offer a clean, modern look. Housing Housing starts fall 11.2% in December Housing starts fell 11.2 percent in December to a seasonally adjusted annual rate of 1.08 million units, according to a report from the government that was delayed due to the par- tial government shutdown. Multifamily starts fell 20.4 percent to a seasonally adjusted annual rate of 320,000 units, while single-family production post- ed a 6.7 percent decline to 758,000 units. However, single-family and multifamily starts each posted a yearly gain. Single- family production was up 2.8 percent in 2018 to a rate of 872,800—the highest annual fig- ure since the Great Recession. "Looking ahead, we expect single-family production will be relatively flat in 2019 and multifamily starts will level off as well," says NAHB Chief Economist Robert Dietz. "The biggest challenge facing builders this year will be ongoing housing affordability concerns as they continue to grapple with a shortage of construction workers, a lack of buildable lots and excessive regulatory burdens." Regionally in December, combined sin- gle-family and multifamily housing starts were unchanged in the Northeast. Starts fell 26.3 percent in the West, 13.2 percent in the Midwest, and 6 percent in the South. Progressive Casualty Ins. Co. & Affi liates. Business and Workers' Compensation coverage provided and serviced by affi liated and third party insurers. So Progressive offers commercial auto and business insurance that makes protecting yours no big deal. Local Agent | ProgressiveCommercial.com Small business is no small task. For more info circle 64

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