By Dianne M. Pogoda
Company News
Century Communities Selects LG: Century Communities, a leading national home builder, has chosen LG Electronics USA as its national appliance supplier. The deal with the LG Pro Builder division will supply LG kitchen and laundry appliances to Century’s two homebuilding brands — Century Communities and Century Complete. Century operates in 16 states and more than 45 markets across the country. LG is expected to outfit tens of thousands of homes across the U.S. over the next four years. LG Pro Builder supplies connected home appliance solutions, exclusive packages, and support directly to design and building professionals. The partnership kicks off in the 4th quarter of this year and features LG’s core line of Energy Star®-certified refrigerators, ranges, dishwashers, washers, and dryers. LG is an 11-time Energy Star Partner of the Year. Learn more about LG Pro Builder here.
Gaggenau Launches Vario Cool Series: Premium appliance maker Gaggenau has unveiled its Vario Cooling Expressive refrigeration series, including refrigerators, freezers, and wine cabinets in various sizes and capacities. The refrigerators feature dark brushed stainless-steel interiors with adjustable anodized aluminum and glass shelving. They offer touch-to-open, handle-free doors, interior air purification and food preservation technology, and Gaggenau’s “Fascinating Light” that spotlights food and “reacts” to user behavior. For example, when a drawer is opened, the lighting intensifies in that space. Refrigerators and freezers are available in combination models and as columns, while wine cabinets are offered in 45-cm and 61-cm widths, with capacities of 68 bottles and 110 bottles, respectively. The wine cabinets have three-zone climate and temperature control, fully adjustable shelving to accommodate various bottles and glasses, and infrared technology that measures the temperature of individual bottles in addition to the ambient cabinet temperature. The line will be available in Europe starting in December and rolled out globally in 2026. More info here.
Cabinetworks Taps CFO: Larry France has been named chief financial officer at Cabinetworks Group, a privately held cabinet manufacturer. He has been serving as interim CFO since last December. France joined the company in 2023 as SVP of financial planning and analysis, bringing more than two decades of finance experience to the role. KBB has the story.
Chapter Updates
SOKY’s True Event: The Southern Ohio/Kentucky Chapter is hosting a “Chef Event” on Sept. 25 featuring a presentation from Tyler Mitchel with True Residential at Lee Supply Dayton, 1546 Stanley Avenue in Dayton, OH. The event runs from 11 am to 1 pm. NKBA members and students are free, non-members are $10. Register here.
Matthew Quinn at Mid -Atlantic: The Mid-Atlantic chapter will host an evening of cocktails and conversation with a keynote presentation by designer, product innovator, and author Matthew Quinn on Oct. 8 at Grothouse, 3971 Independence Drive, Schnecksville, PA. Happy hour and tours of the Grothouse workshop start at 5 pm, with Quinn’s keynote starting at 6:30. Quinn is the CEO of Atlanta-based Design Galleria Kitchen and Bath Studio and founder of the Matthew Quinn Collection, a luxury kitchen, bath, and architectural hardware showroom. NKBA Members are $45, non-members are $55, and students are $10. Register here.
Industry News
Residential Construction Drops: New housing construction appears to be falling, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Privately owned housing starts fell 8.5 percent in August from July and were down 6 percent compared to August 2024. Single-family housing starts in August dropped 7 percent from July. Furthermore, building permits for homes in the private sector were off 3.7 percent monthly and plunged 11.1 percent YOY. August housing completions, however, rose 8.4 percent for the month but were 8.4 percent below August 2024 levels. More info here.
Cost of Home Ownership Keeps Rising: The U.S. Census Bureau released one-year estimates from a new American Community Survey, showing that the median monthly cost of home ownership for homeowners with a mortgage rose to $2,035 in 2024 from $1,960 in 2023. The figures are adjusted for inflation and reflect a YOY 3.8 percent jump. One measure of housing affordability is the amount households spend on costs such as mortgage payments, insurance, taxes, utilities, fees, and other expenses. In 2024, the median percentage of household income homeowners spent to cover these costs was 21.4 percent. More detail here.
Lumber Prices Drop: Lumber prices fell at the end of August in a typical seasonal slowdown, according to Madison’s Lumber Reporter. In the last week of August, the benchmark softwood lumber item — Western Spruce-Pine-Fir 2×4 — was $450 per thousand board feet, down 8 percent from the previous week and 10 percent lower than a month ago. However, prices were 43 percent higher than the same week in 2024 and 30 percent higher than in 2023. Tariffs on Canadian lumber exports to the U.S. came into effect in August, doubling the rate to 35 percent. This means that Canadian mills are likely to seek other markets in which to sell, potentially tightening supply in the U.S. when demand rebounds. Builderonline has more details.
