Hardwood Floors October/November 2024

Industry Outlook 2025 CONTRACTORS Half of the NWFA contractors in the survey said their wood flooring sales were up in 2023, with another 27 percent reporting sales were the same or down (respectively) from 2022. About 43 percent expect wood flooring sales to increase in 2024.

2025 SALES OUTLOOK

One contractor said: “Home equity is still on the rise, and people still can use it for home improvement projects. People also are relocating from cities to smaller towns, and a new home purchase seems to stimulate the desire to upgrade the new place before moving in.” Contractors in the survey are optimistic for 2025. About half expect sales of wood flooring to grow in 2025. Just 4 percent foresee a decline. Contractors said material prices and costs to consumers were their top obstacles in selling wood flooring in 2024. One contractor recalled a quote from his father in a sales meeting in 1978: “If you close every sale, you have a problem. If you don’t close any sales, you really have a problem. You should get your fair share and a little bit more.” Natural colors have been the most popular in the field for factory-finished flooring and refinishing existing flooring. One contractor said of the shift: “We’re seeing more natural-looking floors and getting away from the gray spectrums. Customers also seem more interested in hiring a branded company with in-house team members rather than allowing a remodel contractor or builder to provide a sub.” Most contractors said the following has been true of most installations in 2024: • Nail down or glue down with nail assist • 3” to 5” planks, fewer installs of greater than 5” • Installed over wood panel subfloor • Water-based finishes • Parquet (herringbone/chevron patterns) • Staircases

14

Up significantly (8%+)

36

Up somewhat (3 to 7%)

46

About the same (-2 to +2%)

4

Down somewhat (-3 to -7%)

0

Significantly down (-8%+)

5%

0%

15%

10%

35%

25%

55%

30%

45%

20%

50%

60%

40%

WHAT ISSUES ARE YOU SEEING WITH CLAIMS?

54

Moisture claims

Sales/specification- related claims

8

21

Maintenance claims

13

Environmental claims

25

Customer expectation claims

13

Milling claims

8

Finish claims

8

Domestic wood claims

21

Subfloor-related claims

13

Noisy floors claims

17

Installation-related claims

13

Other

5%

0%

15%

10%

35%

25%

55%

30%

45%

20%

50%

60%

40%

52 hardwood floors hardwoodfloorsmag.com