WASHINGTON, D.C.

Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good than poor.

"This is the first time the HMI has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases," said NAHB chairman Rick Judson, a home builder and developer from Charlotte, North Carolina. "With the low inventory of existing homes, an increasing number of buyers are gravitating toward new homes."  

The eight-point jump in the index was the biggest one-month gain since August and September of 2002, when the HMI recorded a similar increase of eight points.

"Builders are experiencing some relief in the headwinds that are holding back a more robust recovery," said NAHB chief economist David Crowe. "Today's report is consistent with our forecast for a 29 percent increase in total housing starts this year, which would mark the first time since 2007 that starts have topped the one million mark."

Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low."

Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

All three HMI components posted gains in June. The index gauging current sales conditions increased eight points to 56, while the index measuring expectations for future sales rose nine points to 61 - its highest level since March 2006. The index gauging traffic of prospective buyers rose seven points to 40.

The HMI three-month moving average was up in three of the four regions, with the Northeast and Midwest posting a one-point and three-point gain to 37 and 47, respectively. The South registered a four-point gain to 46 while the West fell one point to 48.

The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public.

GRAND RAPIDS, MICHIGAN

Construction is now complete on the 1,300 sq. ft. test lab at the Selkirk Corporation headquarters in Grand Rapids, Michigan.

For many decades, contractors, engineers and architects have come to trust Selkirk to engineer and manufacture products to the highest standards. The new lab is one additional way Selkirk continues to build on this trust.

This new, three-story addition was designed to enable testing on test chimney, vent, duct and accessories for compliance, design specifications, industry requirements and standards. Having the lab in-house allows for timely, cost-effective testing that ensures every product meets all quality requirements and has the highest safety and performance ratings.

Products used in the construction of the lab include a Milcor brand roof hatch, as well as a damper and exhaust fan from Selkirk's sister company, PennBarry.

Since 1920, Selkirk Corporation has been a leading manufacturer of chimney, venting and air distribution products for the commercial and residential HVAC and hearth industries. Selkirk manufactures products in the United States, Canada and Mexico.

BIRMINGHAM, ALABAMA

Dramatically lit French antiques and a sneak preview of Gabby's latest products struck a pose in B&A warehouse's loft-meets-museum setting. Locally invited buyers and guests were able to truly judge the unique details of the curated pieces, magically displayed with live music and hors d'oeuvres.  

"Remarkable, truly remarkable," said Paul Bentley, Gabby sales representative for Alabama and surrounding states. "The Gabby team has really upped the ante this time."

Slowly moving shadow play from B&A's unique skylights added to the auction platform creating an antiques-appropriate temporality, alongside the just-from-port feel of the rustic and sophisticated venue.

"Time is a big part of this story," said William White, president of Gabby. "Most of the pieces here are over 200 years old from the Provence region of France. Our team of merchants has travelled over 5,000 miles and to countless antique fairs to bring something unique to our customers."

A flowing bar and bourgeois-Southern, bite-size catering, and a raspy singer/songwriter kept the conversation endless for guests in this who's-who of the Birmingham antiques scene.

Showcasing the unique story in Gabby fashion were many illustrative antique furniture items. Each piece is original, like the dramatically painted black bookcase from the 1870s. Narrating circuitous travels is a large earth globe with bronze reglette and painted wooden base circa 1880. A grand double birdcage illustrates love requited, in form and story.

Many other objects of affection are deepened by the viewer's experiences: an 1890s pinewood bakery shop counter with six deep drawers, a pinewood island counter of sculpted wood, and a 1720s wood sculpted imposte.

Visit the Gabby showroom at the Atlanta Gift Market in July to see more pieces on display, and get the full story on its diverse collection of French antiques. Call 1-888-868-4267.