Cornerstone Magazine, February 2024

CORNERSTONE MAGAZINE

Inflation slowed in December as an economic ‘soft landing’ moves into sharper focus

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Home Builders Association of West Florida | February 2024

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2023 Leadership Board 2024 Home Builders Association of West Florida Board of Directors BUILDER MEMBERS

Dax Campbell 1st Vice President Campbell Construction & Company

Austin Tenpenny 1st Vice President Adoor Properties

Jennifer Reese Treasurer Reese Construction Services

Fred Gunther, Gunther Properties Drew Hardgraves, Landshark Homes Ronnie Johnson, J. Taylor Homes Heath Kelly, Heath Kelly Construction Lowell Larson III, Venture Real Estate Alton Lister, Lister Builders, Governmental Affairs Chair Kyle McGee, Sunchase Construction Shon Owens, Owens Custom Homes & Construction Douglas Russell, R-Squared Construction Eric Shaffer, Shaffer Construction Casey Smith, DR Horton Monte Williams, Signature Homes Anton Zaynakov, Grand Builders

ASSOCIATE MEMBERS

Heath Kelly Secretary Heath Kelly Construction

Paul Stanley 2nd Vice President The First Bank

Lindy Hurd Amir Fooladi Past 2nd Vice President/SMC Chair Immediate Past President ParsCo First International Title

Kevin Sluder 3rd Vice President Gene’s Floor Covering

Josh Peden Financial Officer Hudson, Peden & Associates

Bill Batting, REW Materials Rick Byars, Florida Power & Light Bruce Carpenter, Home Mortgage of America Mickey Clinard, Hancock Whitney Bank Laura Gilmore, Fairway Ind. Mortgage, Affordable Housing Liaison Chris Graye, Graye’s Granite Jill Grove, Pensacola Energy John Hattaway, Hattaway Home Design, Cost and Codes Chair Chris Thomas, Acentria Insurance Shellie Isakson-Smith, Supreme Lending Daniel Monie, KJM Land Surveying Alex Niedermayer, Underwood Anderson & Associates Ric Nickelsen, SmartBank Zach Noel, Clear Title of NW FL Charlie Sherrill, SouthState Bank Pam Smith, Real Estate Counselors, Pensacola Assn. of Realtors Liaison (proposed by PAR) Janson Thomas, Swift Supply Wilma Shortall, Trustmark Mortgage Kevin Sluder, Gene’s Floor Covering

COUNCIL CHAIRS

CORNERSTONE Steve Moorhead Legal Counsel Moorhead Law Group

MAGAZINE

(850) 476-0318 4400 Bayou Blvd., Suite 45, Pensacola, Florida 32503 www.westfloridabuilders.com

Cornerstone is published for the Home Builders Association of West Florida by Ballinger Publishing and distributed to its members. Reproduction in whole or part is prohibited without written authorization. Articles in Cornerstone do not necessarily reflect the views or policies of the HBA of West Florida. Articles are accepted from various individuals in the industry to provide a forum for our readers.

4 | Home Builders Association of West Florida Cornerstone Magazine

Mary Jordan, Gulf Coast Insurance Tradesman Education Chair Suzanne Pollard-Spann, Legacy Insurance Brokers Ambassadors Chair

Ex-Officio Members of the Board of Directors Blaine Flynn, Flynn Built Shelby Johnson, Johnson Construction Russ Parris, Parris Construction Company Newman Rodgers, Newman Rodgers Construction Thomas Westerheim, Westerheim Properties Doug Whitfield, Doug Whitfield Residential Designer Curtis Wiggins, Wiggins Plumbing

CORNERSTONE MAGAZINE

CONTENTS FEATURES

PRESIDEN’S MESSAGE..................................................................................... 6 INFLATION SLOWED IN DECEMBER................................................................... 8

JENNIFER MANCINI Executive Director jennifer@hbawf.com

HBAWF News TOP CHALLENGES FOR BUILDERS IN 2024......................................................10 YOUNG ADULTS LIVING WITH THEIR PARENTS DROPS TO DECADE LOW............12

Publisher Malcolm Ballinger malcolm@ballingerpublishing.com Executive Editor Kelly Oden kelly@ballingerpublishing.com Art Director Ian Lett ian@ballingerpublishing.com Graphic Designer/Ad Coordinator Alana Cox advertise@ballingerpublishing.com

HOUSING SHARE OF GDP INCHED UP IN THE FOURTH QUARTER OF 2023........14 HOUSING AFFORDABILITY REMAINS NEAR HISTORIC LOW LEVEL.....................16 NAHB MEMBERS SAVED OVER $40 MILLION IN 2023.......................................18 EXPLORE THE MANY WAYS TO CONNECT WITH NAHB.......................................19 DOE ISSUES NEW ENERGY CONSERVATION STANDARDS.................................. 20

Editor Morgan Cole morgan@ballingerpublishing.com Assistant Editor Nicole Willis nicole@ballingerpublishing.com Editorial Interns Carey Clarkson Austin Mason Sales & Marketing Paula Rode, Account Executive, ext. 28 paula@ballingerpublishing.com Geneva Strange, Account Executive, ext. 31 geneva@ballingerpublishing.com Cornerstone, the monthly publication of the Home Builders Associa-tion of West Florida serving Escambia and Santa Rosa Counties, is published monthly, twelve (12x) per year. Send address changes to HBA of West Florida, 4400 Bayou Boulevard, Suite 45, Pensacola, Florida 32503-1910. Cornerstone, is published in the interests of all segments of the home building industry and is distributed to its members and others associated with the HBA of West Florida. HBA of West Florida and Ballinger Publishing does not accept responsi-bility for, or endorse any statement or claims made by advertisers or authors of any articles. Every effort has been made to assure ac-curacy of information, but authenticity cannot be guaranteed.

No part of this publication may be reproduced without the written consent of Home Builders Association of West Florida, Copyright ©, 4400 Bayou Boulevard, Suite 45, Pensacola, Florida 32503-1910, 850.476.0318. Advertisers and advertorials in Cornerstone do not constitute an offer for sale in states where prohibited by law.

February 2024 | westfloridabuilders.com |

5

President’s Message Challenges buyers are facing due to the limited inventory of homes for sale and slightly lower interest rates are leading to a stressful time for buyers in today’s market.

Increased competition is also leading to challenges for buyers. With fewer homes available, the number of buyers exceeded the supply, leading to increased competition. Quick decision making in a volatile market with low inventory is another contributing factor in today’s stressful home buying process. Buyers are having to make swift decisions and submit offers promptly to avoid missing out on potential opportunities. Last but certainly not least, is the difficulty in finding affordable housing. The competition for lower priced homes is particularly intense, making it difficult for buyers with limited financial resources.

Dax A. Campbell Campbell Const. & Co. LLC

Dax A. Campbell President Campbell Const. & Co. LLC

WELCOME JANUARY NEW MEMBERS ASSOCIATES: Eager Beaver Electrical Max Access LLC Own, Inc.

BUILDERS: Crosswood Homes

6 | Home Builders Association of West Florida Cornerstone Magazine

Save the Date!

Annual HBA Home & Product EXPO at the Pensacola Interstate Fairgrounds

September 14 - 15, 2024.

Feature Story

Inflation slowed in December as an economic ‘soft landing’ moves into sharper focus

T

he Federal Reserve’s preferred inflation gauge

cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship.

Friday’s government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed’s 2% annual target. Measured from a year earlier, prices increased 2.6%.

Excluding volatile food and energy costs, so-called “core” prices rose just 0.2% from month to month and 2.9% from a year earlier — the smallest such rise since March 2021. Economists consider core prices a better gauge of the likely path of inflation.

On January 25, a government report showed that the economy expanded at a surprisingly strong 3.3% annual pace in the final three months of last year. Solid consumer spending propelled the growth, capping a year that had begun with widespread expectations of a recession but instead produced a healthy expansion.

Biden’s Republican critics have sought to highlight what had been the biggest inflation spike in four decades, for which

they have largely blamed the president’s spending policies.

But with inflation having dropped sharply after an extended period of gloomy consumer sentiment, Americans are starting to show signs of feeling better about the economy. A measure of consumer confidence by the University of Michigan, for example, has jumped in the past two months by the most since 1991.

The details in the report all point to inflation being in check: Measured over the past six months, prices are up just 1.9%, which is actually below the Fed’s 2% target. Over the past three months, the figure is even lower: 1.5%.

Grocery prices, after nearly two years of sharp increases, were unchanged in December and were just 1.3% higher than a year earlier. Chicken prices actually dipped 0.4% from November to December; they’re up 1.2% compared to a year ago. Beef and veal prices, though, climbed 0.3% in December and are still 8.7% higher than 12 months earlier.

The report arrives less than week before the Fed will hold its latest policy meeting. The central bank is considered sure to keep interest rates unchanged, but attention will be focused on Chair Jerome Powell’s news conference for any clues about when the Fed might begin to cut rates.

8 | Home Builders Association of West Florida Cornerstone Magazine

Several Fed officials, though, have pushed back against such assumptions. Christopher Waller, an influential figure on the Fed’s Board of Governors, last week reiterated his view that inflation is on track to return to the Fed’s 2% goal. But Waller cautioned that any decision to cut rates should be “carefully calibrated and not rushed” — remarks that were widely interpreted as downgrading the likelihood of a March cut.

“The Fed will be welcoming the inflation data,” said Lydia Boussour, senior economist at consulting firm EY. “It does suggest that inflation is on track and the Fed is well-positioned to start (cutting rates) in a few months.”

Friday’s price data showed a lower level of inflation than did the most recent consumer price index, released earlier this month, which showed inflation at 3.4% in December. The more widely known CPI shows higher inflation than the Fed’s preferred measure partly because it puts greater weight on housing and rents, whose prices are higher than for many other goods and services.

Source: Christopher Rugaber apnews.com

During 2023, inflation fell steadily as global supply chains recovered from pandemic-era disruptionsand more Americans came off the sidelines to take jobs, which helped slow wage growth. Slower-rising pay eases the pressure on businesses to raise prices to offset higher labor costs.

According to the Fed’s preferred measure, inflation peaked at 7.1% in June 2022.

Prices rose more than expected in January as inflation won’t go away

More Americans now appear to be pushing back against the price spikes of the past two years. In response, there are signs that some companies are forgoing price hikes or implementing smaller increases.

Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported on February 13.

The Fed’s most recent beige book report, a collection of anecdotes mostly from businesses around the country, found many examples of companies finding that they now have less ability to raise prices.

The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that came out to 3.1%, down from 3.4% in December.

That trend appears particularly evident at auto dealerships. Car dealers now have many more vehicles on their lots than in the depths of the pandemic, when factory shutdowns left consumers desperate to find a new or used car. David Kelleher, for example, who owns a Chrysler-Jeep dealership just outside Philadelphia, said his profit margins have plunged 70% since 2021 now that consumers have more options and can haggle again.

Kelleher is offering enhanced discounts to try to attract buyers.

“There’s less appetite to absorb the higher cost,” he said.

In the aftermath of the pandemic, Kelleher said, he might have had five Jeep Wranglers on his lot and 25 customers who wanted one, giving him significant pricing power. Now, he has 78 Wranglers, and many of his competitors are wellstocked as well.

“That’s good for the consumer,” who can play the dealers off each other, Kelleher conceded.

In December, the Fed’s policymakers had projected that they would carry out three quarter-point rate cuts this year. Yet they provided little hint of when the first cut might occur. Late last year, Wall Street traders had bet that the first rate cut would occur in March.

February 2024 | westfloridabuilders.com |

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HBAWF News

Top Challenges for Builders in 2024

A

ccording to the January 2024 survey for

theNAHB/Wells Fargo Housing Market Index

(HMI), high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them to be a problem in 2024. The second most widespread problem in 2023 was rising inflation, cited by 83% of builders, with 52% expecting it to be a problem in 2024.

Concerns over the cost and availability of labor have increased significantly in recent years, rising from only 13% of builders in 2011 to its peak at 87% in 2019. Fewer builders reported this problem in 2020 (65%), but the share rose again in 2021 (82%) and 2022 (85%). The share eased slightly in 2023 to 74%, and 75% expect the cost and availability of labor to remain a significant issue in 2024.

family construction in 2023 made this less of a problem for builders last year, with 63% reporting it as a significant issue. Fewer (58%) expect it to remain an issue in 2024.

Compared to the supply-side problems of materials and labor, problems attracting buyers have not been as widespread, but builders expect many of them to become more of a problem in 2024. Buyers expecting prices or interest rates to decline if they wait was a significant problem for 71% of builders in 2023, with 77% expecting it to be an issue in 2024. A majority of builders (56%) also cited negative media reports making buyers cautious as a significant issue that is expected to continue in 2024.

Source: NAHB

The share of builders experiencing significant problems with building materials prices has fluctuated over the years as well, reaching as low as 33% in 2011 to a peak of 96% in 2020, 2021 and 2022. The slowdown in single-

10 | Home Builders Association of West Florida Cornerstone Magazine

HBAWF News

HBA SPRING CLAY SHOOT EVENT INFO

TOURNAMENT SCHEDULE 2/23/24

SHOOTER INFO & EVENT DETAILS

COST: $595 Per Team of Four

•

Please bring CASH for the raffle and mulligans

7:30—8:30 AM

Check-in

•

8:30 AM

Mandatory Safety Meeting

All shooters must sign a Waiver prior to the start of the tournament.

9:00 AM

Tournament Begins

•

Location:

Santa Rosa Shooting Center

You are encouraged to bring your own golf cart or side-by side utility vehicle. No Four-Wheelers or ATV’s are permitted. It is VERY reasonable for tournament participants to walk the course, as the total walk is less than one mile.

•

Please bring your own hunting/target shotgun for the tournament. Each team will be required to have a minimum of (2) shotguns per team.

•

Shooters should bring their own target ammo. NO shells larger than 12 gauge with 3 drains of powder and shot size larger than 7 1/2 ”

•

This is an 100-shot tournament with 12 stations, so please plan accordingly.

•

Each team will receive a maximum of (1) show pair per team. The 1st shooter will get the show pair. This rule will be monitored and enforced throughout the tournament.

•

All participants (including Volunteers) are required to wear both eye and ear protection while on course.

•

Alcohol is NOT permitted until tournament is complete.

6950 Quintette Road, Pace, FL 32571 •

Following the tournament, join us for Lunch, Raffle Drawing and Awards

Please scan the QR code or visit the link below to register a team : https://forms.gle/JyD51JT4SMDZtukZ8

Presenting Sponsor:

HBA of West Florida, 4400 Bayou Blvd., Suite 45, Pensacola, FL 32503 (850) 476-0318 email: Stephanie@hbawf.com www.westfloridabuilders.com

February 2024 | westfloridabuilders.com |

11

HBAWF News

Share of Young Adults Living with their Parents Drops to Decade Low

D

espite record high inflation rates, rising interest rates and worsening housing affordability, young adults continued to move out of parental homes in 2022. According to NAHB’s analysis of the 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS), the share of young adults ages 25-34 living with their parents or parents-in-law declined and now stands at 19.1%. This percentage is a decade low and a welcome continuation of the post-pandemic trend toward rising independent living by young adults.

Traditionally, young adults ages 25 to 34 constitute around half of all first-time home buyers. Consequently, the number and share of young adults in this age group who choose to stay with their parents or parentsin-law has profound implications for household formation, housing demand and the housing market.

The share of adults ages 25 to 34 living with parents reached a peak of 22% in 2017-2018. Although a nearly three percentage point drop since then is a welcome

development, the share remains elevated by historical standards, with almost one in five young adults in parental homes. Two decades ago, less than 12% of young adults, or 4.6 million, lived with their parents. The current share of 19.1% translates into 8.5 million of young adults living in the homes of their parents or parents-in-law.

Comparing NAHB’s estimates of the share of young adults in parental homes against NAHB/Wells Fargo’s Housing Opportunity Index (HOI) data reveals that, until the pandemic, the rising share of young adults living with parents had been associated with worsening affordability. Conversely, improving housing affordability had been linked with a declining share of 25- to 34-yearold adults continuing to live in parental homes. The strong negative correlation disappeared in the postpandemic world, with young adults continuing to move out of parental homes despite worsening housing affordability and rising cost of independent living.

Source: NAHBF

12 | Home Builders Association of West Florida Cornerstone Magazine

HBAWF News

Housing Share of GDP Inched Up in the Fourth Quarter of 2023

H

ousing’s share of the economy rose to 16.0% at the end of the fourth quarter of 2023.

Overall GDP increased at a 3.3% annual rate, following a 4.9% increase in the third quarter of 2023, and a 2.1% increase in the second quarter of 2023. The annual GDP growth in 2023 was reported at 2.5%. Housing’s share of GDP on an annual basis in 2023 was 15.9% — the lowest level since 2019 (15.7%).

This marks a decrease from the 2022 housing GPD share of 16.4%.

In the fourth quarter, the more cyclical home building and remodeling component – residential fixed investment (RFI) – remained level at 3.9% of GDP. RFI added 4 basis points to the headline GDP growth rate in the fourth quarter of 2023, marking two consecutive quarters of positive contributions. For the year, RFI subtracted 49 basis points from GDP growth. Housing services added 5 basis points to GDP growth in the fourth quarter. Moreover, housing services added 5 basis points to annual GDP growth.

Housing-related activities contribute to GDP in two basic ways: The first is through residential fixed investment (RFI). RFI is effectively the measure of home building, multifamily development, and remodeling contributions to GDP. It includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes and brokers’ fees.

For the fourth quarter, RFI was 3.9% of the economy, recording a $1.1 trillion seasonally adjusted annual pace. RFI constituted 3.9% of GDP at $1.1 trillion for the year as well.

The second impact of housing on GDP is the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units), and utility payments. The inclusion of owners’ imputed rent is necessary from a national income accounting approach, because without this measure, increases in homeownership would result in declines in GDP. For the fourth quarter, housing services represented 12.0% of the economy or $3.4 trillion on a seasonally adjusted annual basis. For 2023, housing services accounted for 11.9% of GDP at $3.3 trillion over the year.

Taken together, housing’s share of GDP was 16.0% for the fourth quarter.

Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle. However, the housing share of GDP lagged during the post-Great Recession period due to underbuilding, particularly for the single-family sector.

Source: NAHB Eye on Housing Report

14 | Home Builders Association of West Florida Cornerstone Magazine

HBAWF News

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February 2024 | westfloridabuilders.com |

15

HBAWF News

Housing Affordability Remains Near Historic Low Level

M

ortgage rates that hit more than a 20-year high,

coupled with elevated construction costs and excessive regulatory costs, left housing affordability in the fourth quarter of 2023 virtually unchanged from the previous quarter and holding near its lowest level in more than a decade.

According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.7% of new and existing homes sold between the beginning of October and end of December were affordable to families earning the U.S. median income of $96,300. This is nearly identical to the 37.4% posted in the third quarter of last year, which was the lowest reading since NAHB began tracking affordability on a consistent basis in 2012.

The fourth quarter also marks the final report of the long-running HOI series. Replacing the HOI in the first quarter of this year will be a new housing affordability index from NAHB called the Cost of Housing Index (CHI), a quarterly analysis of housing costs in the U.S. and metropolitan areas. The CHI represents the share of a typical family’s income needed to make a mortgage payment. A low-income CHI will also be produced for families earning only 33% of the area’s median income.

“Affordability conditions should show some gradual improvement this year, as mortgage rates peaked in the fourth quarter of 2023 and are now well below 7%,” said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala. “But even as lower interest rates track with our latest builder surveys that indicate an upturn in builder confidence in the single-family market, affordability conditions will remain challenging as builders contend with a high-cost regulatory environment and a chronic shortage of workers and buildable lots.”

“Even as overall inflation continues to moderate, shelter costs continue to put upward pressure on inflation, accounting for more than half the inflation gains in the latest Consumer Price Index,” said NAHB Chief Economist Robert Dietz. “The best way to tame shelter inflation and address America’s housing affordability challenges is to enact policies that reduce regulatory costs to help builders increase the supply of housing.”

The HOI shows that the national median home price was $375,000 in the fourth quarter, down from $388,000 in the third quarter. Meanwhile, average mortgage rates increased more than 30 basis points from 7.13% in the third quarter up to 7.44% in the fourth quarter—the highest rate in the HOI series history.

16 | Home Builders Association of West Florida Cornerstone Magazine

HBAWF News The Most and Least Affordable Markets in the Fourth Quarter Lansing-East Lansing, Mich., was the nation’s most affordable major housing market, defined as a metro with a population of at least 500,000. There, 79.3% of all new and existing homes sold in the fourth quarter were affordable to families earning the area’s median income of $97,800.

For the 13th straight quarter, Los Angeles-Long BeachGlendale, Calif., remained the nation’s least affordable major housing market. There, just 2.7% of the homes sold during the fourth quarter were affordable to families earning the area’s median income of $98,200.

Top five affordable major housing markets:

Top five least affordable major housing markets—all located in California:

1.

Lansing-East Lansing, Mich.

2. Harrisburg-Carlisle, Pa.

1.

Los Angeles-Long Beach-Glendale

3. Indianapolis-Carmel-Anderson, Ind.

2. Anaheim-Santa Ana-Irvine

4. Dayton-Kettering, Ohio

3. San Diego-Chula Vista-Carlsbad

5. Akron, Ohio

4. Oxnard-Thousand Oaks-Ventura 5. San Francisco-San Mateo-Redwood City

Meanwhile, Bay City, Mich., was rated the nation’s most affordable small market, with 88.3% of homes sold in the fourth quarter being affordable to families earning the median income of $82,300.

Top five affordable small housing markets: 1.

The top five least affordable small housing markets were also in the Golden State. At the very bottom of the affordability chart was Santa Maria-Santa Barbara, Calif., where 5.2% of all new and existing homes sold in the fourth quarter were affordable to families earning the area median income of $107,300.

Top five least affordable small housing markets—all located in California:

Bay City, Mich.

2. Elmira, N.Y. 3. Davenport-Moline-Rock Island, Iowa-Ill.

1.

4. Cumberland, Md.-W.Va.

2. San Luis Obispo-Paso Robles

5. Springfield, Ohio

3. Napa

Santa Maria-Santa Barbara

4. Salinas 5. Merced Source: NAHB

February 2024 | westfloridabuilders.com |

17

HBAWF News

NAHB Members Saved Over $40 Million in 2023

N

AHB members who use the Member Savings Program know their membership more than pays for itself through numerous member-exclusive discounts. And the amount of savings keeps growing each year: In 2023, NAHB members saved more than $40 million — not only on their business expenses, but also on personal travel and entertainment costs.

The total member savings in 2024 will likely grow even more as the list of participating companies in the NAHB Member Savings Program continues to expand. New in 2024, the Active&Fit Direct program gives NAHB members access to discounts on memberships and amenities at a variety of premier gyms across the country.

Discounts through Active&Fit Direct are available at LA Fitness, Chuze Fitness, Anytime Fitness, Gold’s Gym, Curves and many others.

Active&Fit Direct is only the latest to join NAHB’s lineup of prominent savings programs, which also includes: Avis, Budget, Dell, Farmers Insurance, Goodyear Tires, Heartland, HotelPlanner, Lowe’s, Nissan, ODP Business Solutions, Rho, Ring Central, T-Force, T-Mobile, UPS and Voyager.

And that’s just the beginning. For NAHB members who plan to travel somewhere – anywhere – or shop

for something – anything – be sure to first check out MemberDeals (must be logged in to nahb.org to view).

NAHB partners with MemberDeals to create an extensive collection of member-exclusive offers on an assortment of leading products and popular entertainment across the country. Some of MemberDeals’ featured offers include discounts at Walt Disney World, Universal Studios, Six Flags and many other theme parks. Discounts are also available at ski resorts, sporting events and movie theaters.

Additional offers available through MemberDeals include discounts on Sam’s Club memberships, concerts, hotels, rental cars, flights and travel packages. Plus, NAHB members can get discounts on the purchase or lease of a new BMW or MINI. Notable changes to the list of participating companies in the NAHB Member Savings Program for 2024 include the discontinuation of HouzzPro and ConstructionJobs.com. However, NAHB is continually pursuing new partnership opportunities to add as much value as possible to NAHB members.

If you have any questions or suggestions for new savings programs, please contact Sharon Salang. ssalang@nahb.org Source: NAHB

18 | Home Builders Association of West Florida Cornerstone Magazine

HBAWF News Explore the Many Ways to Connect with NAHB ContentNAHB has a wide range of communication channels for members, HBA staff, and anyone interested in the residential construction industry to stay on top of the latest housing news and the Federation’s efforts to tackle top priorities.

Blogs

Podcasts and Videos

The NAHB Now blog is the premier news destination for the home building industry. The blog keeps members apprised of efforts by NAHB’s staff experts to tackle key issues, updates from Capitol Hill and state houses, the good work being done

by HBAs across the country, and more.

NAHB also produces a podcast, Housing Developments, featuring CEO Jim Tobin and Chief Operating Officer Paul Lopez, that dives into important topics in the home building industry. Subscribe to Housing Developments through your favorite podcast provider or watch each episode on YouTube.

For nationally acclaimed economic analysis, NAHB also publishes Eye on Housing, featuring content by NAHB Chief Economist Dr. Robert Dietz and his expert staff. For the latest on the International Builders’ Show, check out the Know the Show blog. And the Best in American Living blog offers inspiration in home design and development.

Speaking of YouTube, NAHB has an award-winning production department that makes professional videos for the industry.

The NAHB YouTube channel features content such as the popular safety video toolbox series, skilled trades promotional videos, the Chairman’s Update, and much more. And be sure to check out the IBS YouTube channelfor videos from the show.

Social Media Outlets

Member Community and Updates

Beyond blogs, NAHB has a robust presence on popular social media and digital communication channels. Follow NAHB on Facebook, LinkedIn, X and Instagram for the latest from NAHB. And check out some of NAHB’s specialized groups on Facebook and LinkedIn, such as Professional Women in Building, NAHB Remodelers, NAHB Associates, and other dedicated content areas. Just search in Facebook and LinkedIn for NAHB groups.

Engage with other members directly on NAHB Connect, a platform exclusively for NAHB members to exchange ideas and network digitally. No staff, no non-members — just home builders, remodelers, and associate members discussing their businesses.

The International Builders’ Show has its own social accounts on Facebook, LinkedIn and Xto keep IBS attendees informed about the latest developments for the upcoming show. These accounts are must-follows for anyone planning to attend the show in Las Vegas.

NAHB also offers a wide range of email newsletters covering all areas of the Federation to help keep members up to date on the latest news. Check our list of newsletters and subscribe to those that suit your interests.

Learn more about these and other key digital media and publications from NAHB on nahb.org.

February 2024 | westfloridabuilders.com |

19

HBAWF News

DOE Issues New Energy Conservation Standards for Cooking Appliances

T

he U.S. Department of Energy (DOE) issued a

final rule this week that adopts new and amended energy conservation standards for consumer conventional cooking products — both electric and gas. The final rule, which will go into effect on Jan. 31, 2028, will require modest improvements in a small portion of models and are projected to save Americans approximately $1.6 billion on their utility bills over 30 years.

DOE projects approximately 97% of gas stove models and 77% of smooth electric stove models on the market already meet these standards — a significant change from the initial rule proposed last year, which would have impacted half of the models on the market. Changes include allowing stoves that use 1.77 million British Thermal Units (BTUs) of energy per year, up from 1.204 million BTUs in the initial proposal.

of America and energy efficiency advocates — to reduce costs for families and cut greenhouse gas emissions while allowing home appliance manufacturers to continue to deliver highly efficient products with the features that consumers want and expect. Similar standards have been released or are expected for refrigerators and freezers, wine chillers and similar products, clothes washers, clothes dryers and dishwashers.

NAHB has been actively advocating against efforts to limit the availability and use of gas stoves, and will continue to support efforts to maintain a variety of home appliance options for consumers to help improve housing affordability.

Source: NAHB

The final rule addresses concerns expressed to DOE by NAHB and reflects joint recommendations from a wide range of stakeholders — including the Association of Home Appliance Manufacturers, Consumer Federation

20 | Home Builders Association of West Florida Cornerstone Magazine

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SUMMER SIPPERS

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JUNE 2023 • PENSACOLAMAGAZINE.COM

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SPIKE CLUB Green Spike

50 Credits

Doug Sprague Kenneth Ellzey, Sr. Russ Parris Blaine Flynn Paul Stanley Bob Price, Jr. Thomas Westerheim Darrell Gooden Bill Daniel Wilma Shortall John Hattaway

90.5 80.5 73.5 70 68.5 60 58.5 52.5 51.5 51.5 50

In construction, a spike is a steel object that is essential to making a building strong. As in construction, the HBA of West Florida sees a Spike as someone that works to keep our as­sociation strong. Spikes work on the recruit­ Life Spike ment and retention of members in addition to keeping members active with the associa­tion. Anyone is eligible Doug Whitfield for Spike status. On Spike credit is awarded for each new Amir Fooladi member recruited and an additional credit is awarded for that new member’s renewal on or before their anniversary Suzanne Pollard-Spann Garrett Walton date. If you help to retain a member, you are eligible to receive a half point for each member.

Bruce Carpenter III

Spike Club Levels Spike Candidate 1-5 credits Blue Spike 6-24 Life Spike 25-49 Green Spike 50-99 Red Spike 100-149 Royal Spike 150-249 Super Spike 250-499 Statesman Spike 500-999 Grand Spike 1000-1499 All-Time Big Spike 1500+ Spike Club Members and their credits as of 09/30/2023.

Statesman Spike

500 Credits

Harold Logan

525.5

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250 Credits

Rod Hurston

432.5

Royal Spike

150 Credits

Rick Sprague Edwin Henry William “Billy” Moore Bob Boccanfuso

210.5 201.5 184 165.5

Red Spike

100 Credits

Charlie Rotenberry Oliver Gore Ron Tuttle Newman Rodgers IV Ricky Wiggins David Holcomb

150 115 110 102 101.5 100.5

Luke Shows Steve Moorhead Brent Woody Karen Pettinato Larry Hunter Taylor Longsworth Lee Hudson Alton Lister Jon Pruitt Milton Rogers Doug Herrick Dean Williams Lorie Reed Martin Rich William Merrill Kevin Ward Rick Faciane Bill Batting Alex Niedermayer Kim Cheney

Advertiser’s Index Alpha Closets.......................................... 3 Ballinger Publishing............................21 Campbell Construction &Company LLC.....................................15 Gulf Coast Insurance..........................15 Hammond Engineering......................23 Michael Johnson Insurance..............23

25 Credits

Pensacola Energy.................................. 2

42.5 36.5 35 32 30 26.5 23 22.5 21 21.5 20.5 19.5 19 17.5 17.5 16.5 16.5 16 15.5 15.5 13.5 13 12 11 10

REW Materials......................................23 West Fraser......................... Back Cover

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22 | Home Builders Association of West Florida Cornerstone Magazine

9.5 9.5 9.5 9 8 7 7.5

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