Dallas, Texas—Recent home sales data released by Redfin, a technology-powered real estate broker, supports the fact that there is money out there to be spent on homes, and consumers are spending it—great news for aspirational home products such as tile, according to Daltile.
“Higher-end homes are flying off the market, because the pandemic has fueled an uptick in demand for high-end amenities,” said Daryl Fairweather, chief economist, Redfin.
Patrick Warren, vice president of residential sales, dealer and showrooms for Dal-Tile Corporation, said the information shows that the market for tile sales is a good one. “We already know that tile is aspirational—most people would like tile in their home,” he said. “We know that tile increases the value of a home, and also that people are willing to spend more money on their kitchens and bathrooms than other rooms in their homes. The fact that high-end home sales surged nearly twice as fast as mid-priced homes during the first four months of this year is great news for retailers focused on tile sales; there is money in pockets to spend on tile versus cheaper surfaces.”