Housing-related businesses feel the pinch

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

It is not a good year to have a small business related to the housing market, according to Raleigh, N.C.-based Sageworks, which gathers proprietary financial data on privately held companies nationwide.

Nationwide, sales are slumping for those selling, building and furnishing houses. With home loans stalled, real estate agents, lumber wholesalers, concrete manufacturers, furniture stores and residential construction companies account for five of the bottom 10 industries by sales growth over the last 12 months.

Sales changes by industry included real estate agents and brokers, down 8%; lumber wholesalers, 7%; cement/concrete manufacturing, 5%; furniture stores, 1%, and residential construction, 1%. Frankly I’m surprised the drops aren’t more for all those industries but no doubt they’ll continue in that direction for a while.

Rounding out the bottom 10 were sawmills and wood preservation, down 7%; credit intermediation, 5%; radio and TV broadcasting, 2.25%; motor vehicle, parts and supplies wholesalers, 1.5%, and building materials and supplies dealers, 1.5%.

-- Lauren Beale

Your thoughts? Comments?