Although new residential furniture orders dropped 14% in August compared to 2020 figures, they are up 30% over 2019 figures. Year-to-date new orders are up double-digits over both 2020 and 2019 figures, according to the latest issue of Furniture Insights.
Almanac Market Data
This marks the first time since June 2020 that new orders were down from the same month in the previous year, according to Smith Leonard's latest Furniture Insights.
Since 2009, Woodworking Network has paid tribute to market leaders in the wood products industry that have made an impact — not only at their own companies, but also on the industry as a whole. Represented are persons from all segments of the secondary woodworking industry, including: residential furniture, contract/office furniture, cabinets, closets/home storage, store fixture, architectural woodwork, window and door, and wood components.
The U.S. Census Bureau has released an interactive visualization showing the value of shipments and employment for select manufacturing industries that produce housing-related products like paint, upholstered chairs, kitchen cabinets and other materials.
The 7% rise in June 2021 new orders is especially notable considering June 2020 was up 30% over 2019. This marks 13 straight months of year-over-year growth, as reported by Smith Leonard in the latest issue of Furniture Insights.
July's rise continues the trend of year-over-year sales growth. Year-to-date cabinet sales are up 18.3% over 2020, with custom sales up 21.5%, semi-custom sales 17.6% and stock sales up 18.1%.
When asked what industries they sell to, 84.6% of respondents sell to the residential cabinetry and closets market, primarily cabinetry parts, doors and drawers.
The 12th annual housing market study assesses market conditions for secondary woodworking manufacturers involved in construction-based and related sectors.
By Matt Bumgardner, Urs Buehlmann and Karen Koenig
Globally, the overall wooden decking market was valued at $15.01 billion USD in 2020, and is set to record an annual remuneration of $18.04 billion USD over the span of 2021 to 2027.