HOUSE ARREST: Home sales are slowing, prices are still falling and there is no relief in sight. Two reports released yesterday (May 27) revealed the utter deconstruction of the housing market. One showed that home prices nationally fell 14.1% in March from a year earlier. The other showed sales of new homes, though up slightly in April, remained at their lowest levels since 1991. Sellers are faced with a grim task. There are more than 4.5 million homes for sale nationwide, a startling number and a most depressing realization. The way houses are selling—or not selling— it would take nearly a year to clear the market. The inventory varies around the country. Manhattan, some San Francisco neighborhoods and downtown Boston are not being hurt as deeply as LasVegas, Florida and suburban Phoenix, among others.

CONSUMERS CRUSHED: It’s no surprise that consumers are depressed over rising gas prices, weakening job prospects and the cost of food steadily moving up, to list a few woes of American shoppers. But, in May consumers hit their lowest level of confidence in 16 years. The Conference Board said its consumer confidence index dropped to 57.2 in May, down from 62.8 in April. May was the fifth consecutive month of decline and was the lowest since October 1992, when the economy was coming out of a recession.

DERR-IFIC: Rather than bemoan the dismal economy or sit back and wait for change, Derr Flooring, a distributor headquartered in Willow Grove, Pa., held a Spring Sale & Show on April 15, where 40 manufacturers displayed their newest products, and merchandising and marketing programs. Held at the Marriott Hotel Hanover in Whippany, N.J., more than 300 customers were on hand to see, learn and buy. Manufacturer representatives and Derr personnel assisted the visiting retailers with products and new displays for their stores, and they offered rare specials the dealers “couldn’t refuse.” An educational seminar was conducted on, “Green—What Does This Mean to Me?” And, the crowd enjoyed refreshments that completed the event. So successful was the occasion that Derr Flooring, which has six branches in five states, already has plans to hold more shows this year. Can you think of a better way to get through a recession?

WELL DONE: Here’s another indication of how the industry responds to a faltering economy: Coverings 2008, the international tile and stone exhibition held recently in Orlando, Fla., released its official figures and more than 35,000 attended the four-day event. That was up 3.8% over the last show held in Orlando in 2006; the venue alternates between Orlando and Chicago. Despite the slowdown in the housing sector, Coverings reported a 56.6% increase in remodeling/contractor attendance, and a 41% rise in the commercial builder audience. And architects and designers as a group increased in attendance by 40%; last year in Chicago it was up a whopping 87%. Next year the show goes back to Chicago and will be held at McCormick Place Convention Center April 21 to 24. Mark your calendar.

BIG NUMBERS: At its Chattanooga, Tenn., manufacturing sites, BASF recently celebrated a milestone: the production of its five billionth pound of latex used to make carpet backing—enough to serve the carpet needs of more than 30 million average-size homes in the U.S. BASF acquired the manufacturing complexes in 1988 and since has reduced air emissions by 98%, an enviable record. Joe Yarbrough, executive vice president of operations for Mohawk Industries, congratulated BASF: “With world class products, service, quality and technology, as well as teams of dedicated people, the production of five billion pounds of polymer is but one measure of the outstanding company that BASF is.”