Abstract: A wood flooring panel includes a plurality of parallel longitudinal wood slats situated side by side. A latex vinyl impregnated flexible backing paper is affixed by a polyurethane resin adhesive to a back side of the slats to accurately hold the slats as a panel. The latex vinyl impregnated flexible backing paper is of a material that is inextensible in the longitudinal and lateral directions, but flexible to permit bending at joints defined between the wood slats. The latex vinyl impregnated flexible backing paper acts a primary protective moisture barrier to a subfloor, and a polyurethane resin adhesive acts as a secondary protective moisture barrier to the subfloor. A method of installing a hardwood floor is also described.