1. THIS OLD HOUSE STUDY: Naples-Marco is ‘hot’ for new home construction
Young vs. old. What’s your preference? We’re not talking about people, we’re talking about the age of a house.
The research team at This Old House analyzed data on the median year housing units were built from the U.S. Census Bureau American Community Survey to explore what regions and cities in the United States have the oldest housing stock and which ones have the newest.
The analysis examined the 150 most populous metropolitan areas to identify where modern builds are thriving.
One of the findings: The Naples-Marco Island market is hot for buyers looking for new home construction. – Mark Bickel/USA TODAY Network-Florida
Key Findings for Naples-Marco Island:
- Naples-Marco Island is in the top tier of Metros with the youngest homes.
- The median home in Naples-Marco Island was built in 2000. The national average was built in 1981.
- With a median home age of25 years, Naples-Marco Island is attracting homebuyers who prioritize energy efficiency, low maintenance, and modern amenities.
2. JOANN STORES CLOSING: Sale approved as fabric retailer plans to shutter all locations
The auction results that put Joann’s assets under new leadership have been approved in federal bankruptcy court, paving the way for the fabric and craft retailer to close all store locations by the end of May.
The hearing to confirm the winning bid happened on Feb. 26 in the U.S. Bankruptcy Court for the District of Delaware after retail liquidator GA Group and Joann’s term lenders made the winning bid for the Hudson, Ohio-based retailer on Saturday.
On Feb. 24, Joann announced that it would be closing all of its more than 800 stores following the sale of its remaining assets and the retailer’s second bankruptcy filing within a year.
Joann said it was set to begin going-out-of-business sales at all locations immediately after the sale was approved in court. – Jonathan Limehouse/USA TODAY
3. ADVANCE AUTO PARTS STORE CLOSURES: What to know as 700 locations are set to shutter by mid-2025
Advance Auto Parts is continuing in its plan to shutter hundreds of stores and four distribution centers in 2025, the company said in a Wednesday earnings call after initially announcing the closures in November 2024.
In releasing its fourth-quarter report Feb. 26, the company reiterated its plans to close approximately 500 corporate stores, 200 independent locations and four distribution centers by mid-2025 as part of a “restructuring plan” initially laid out in 2024.
The company said it hopes to improve business performance by focusing on “core retail improvements” with hopes of achieving “consistent profitable growth.” – Gabe Hauari and Natalie Neysa Alund/USA TODAY
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