When the housing market in the United States took a turn for the worse, the first victim in my product offering was Oak. As a long standing staple in North American flooring there is always a great abundance of Oak flooring stocked in warehouses across the country. When the housing crisis hit, this abundance quickly became a dangerous surplus. Naturally, retailers and distributors went into survival mode and began liquidating stock. All of a sudden cheap Oak was everywhere. A neighbor of mine bought a beautiful solid Red Oak floor for his home at auction for the price of a Laminate. It’s been this way for a little over a year.
Fortunately, we may be catching a glimpse of the light at the end of the tunnel…for Oak anyway. Over the course of the last two months we’ve experienced a renewed buzz around our Oak offering, and sales are following suit.
There’s no sure way to tell but it could be a sign that the surplus of Oak may be drying up around the country. This would mean a return to rational pricing. Those of us who have been fortunate enough to stay in business during this rough road could look forward to a spring and summer of reasonable sales. Here’s hoping!