New home furnishings orders continued a strong start to 2021 in February with a 34.4% year-over-year surge to $3.06 billion. Those sales were on top of a 27% jump to $2.9 billion in January.
Smith Leonard PLLC, a financial-services company in High Point, disclosed last week that February’s sales also were up 5.5% from the previous month.
The January orders were down slightly from $2.91 billion in December.
About 94% of survey participants reported a year-over-year increase in February orders, compared with 77% in January and 84% in December.
“We have had several conversations with industry executives that almost always end up with frustrations of how good business is in terms of orders coming and yet how difficult it is to either not be able to get foam or workers, or deal with significant price increases when prices were quoted before the material cost increases came into effect,” said Ken Smith, the firm’s director of furniture services.
“It will be interesting to see how business develops over the summer as restrictions are released and consumers are free to travel and move about more. Will the focus on the home change, or will we see this focus remain for the next year or two or more?"