If you’ve read the newspaper, listened to the radio, or been on the TV news lately, you know the economy is in a tough spot. While all the stories you hear may relate to people losing their jobs and not having enough money to pay their bills, there’s good news if you’re in the market for furniture for your home. Right now, furniture prices are the lowest they’ve been in a long time.

Here’s a look at the reasons for these low prices:

excess inventory

When it comes to buying the furniture you see on the furniture store showroom floor, most stores shop months and months in advance. This means that in the spring they may be placing orders for their fall and winter furniture. While this usually works, as the economy changed, furniture companies found themselves in a tough spot. They had ordered furniture, which was paid for and arrived, as people stopped buying. This means that they were left with additional inventory at the end of each season. The more inventory they have, the lower their profits, so they are cutting prices on this furniture to sell it out of inventory.

low sales

The economic situation has caused many people to reevaluate what they are willing to buy right now. People who may have been thinking about buying a new home or redecorating their current one may now be a little more focused on keeping as much of their income as possible, putting money in the bank, and preparing for the bad times ahead. I like. This means that furniture stores see fewer sales and lower profits. Hoping to convince many of those people to change their minds and once again consider buying furniture, many furniture stores are slashing their prices, hoping they can lower them enough to convince people to get rid of the money you were spending. outside.

general expenses

Whether furniture stores are selling or not, they still have expenses. The showroom where they present that piece of furniture to you is not free. They have to pay rent every month, just like the rest of us. Unfortunately for the furniture company, more often than not the rent for that furniture showroom or warehouse where they keep their inventory is very high and they really need to go to great lengths to make enough profit to cover the bills. This often means lowering prices to make more sales.

out of business

The final way to find furniture at significant discount prices is to look for furniture stores that have failed. Many furniture stores simply can’t make it in the current economy and are closing. When they do this, they often liquidate whatever inventory they have. While this is a sad time for them, it can be a great time for you to find the furniture you want at a deep discount.