NEWS + ANALYSIS
Inventory among the ‘biggest’ housing industry issues It’s difficult to write a headline about the volume of data and trends in the 2021 “The State of the Nation’s Housing Report,” said Danial McCue, senior research associate at the Joint Center for Housing Studies at Harvard University. But McCue came up with five biggest issues.
Product Knowledge Product: Feeney “Era” and “Icon” Awnings Manufacturer: Oakland, Calif.based Feeney, Inc. Knowledge: The powder-coated aluminum frame and polycarbonate UV2 panels provide high levels of protection from the elements, including hail. Engineered to withstand snow and wind loads of up to 35.5 psf. Plus, a builtin gutter whisks away rain. An easy-to-install base kit measures 59 inches, and the extension kit essentially doubles the width. The “Era” model has a vintage look, while “Icon” is distinctly modern. Fun fact: Feeney’s recurring photo contests deliver grand prizes of $500 for user photos of its railings, awnings and other products. Feeney’s Era Awning
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In no particular order: Inventory of homes for sale at historical lows Home prices are rising rapidly Rents are down sharply for high-end apartments in high-cost markets Renters and people of color fared the worst during the pandemic Unsheltered homelessness is growing Regarding the first topic, JCHS reported that in December of 2020, there were just 1.03 million homes for sale. Measured by months of supply (how long it would take for homes on the market to be sold at the current sales rate), the inventory of homes
The JCHS report shows inventory of homes for sale at a record low.
for sale was just 1.9 months, which puts it below 2.0 for the first time since recordkeeping began in the 1980s. As of April 2021, there were still just 2.4 months of supply, or 1.16 million homes for sale nationwide. Historically, a balanced market has been defined as 6 months of available inventory, which has not occurred in the US since 2011.
Katerra closes shop The June issue of HBSDealer reported on the bankruptcy filing of Katerra, the high-tech, high-profile Silicon Valley entrant into the homeconstruction disruption and innovation race. The latest news: Katerra has sold off its factories and facilities. Mercer International received approval from bankruptcy court to acquire Katerra’s 270,000-squarefoot, state-of-the-art cross-laminated timber (CLT) factory in Spokane, Wash., for $50 million. The facility opened in 2019 and was presented to the industry as the most cutting-edge manufacturing center of its kind. Additionally, Philadelphia-based Volumetric Building Companies (VBC) is purchasing Katerra’s 577,000-square-foot plant in Tracy, Calif. The facility also opened in 2019 and produced building
SEPTEMBER 2021 HARDWARE + BUILDING SUPPLY DEALER
Sold: Katerra’s factories.
components including wall panels, floor systems, and windows. Financial terms were not disclosed. Vaughan Buckley, CEO of VBC stated: “Katerra’s Tracy location provides an exceptional opportunity to bring our hands-on construction and manufacturing expertise to a state-of-the-art facility and build our presence on the West Coast.”
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