HBA Cornerstone Magazine, January 2024

Dax Campbell of Campbell Construction

Installed as 2024 HBA West Florida President page 11

January 2024 | www.westfloridabuilders.com | page 1

Cover Story

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January 2024 | www.westfloridabuilders.com | page 3

2024 Leadership Board

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

Dax Campbell 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

Lindy Hurd Past 2nd Vice President/SMC Chair First International Title

Paul Stanley 2nd Vice President The First Bank

Amir Fooladi Immediate Past President ParsCo

Kevin Sluder 3rd Vice President Gene’s Floor Coverings

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

(850) 476-0318

4400 Bayou Blvd., Suite 45, Pensacola, Florida 32503

www.westfloridabuilders.com

Stephen Moorhead Legal Counsel Moorhead Real Estate Law Group

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.

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

January 2024 | Home Builders Association of West Florida | page 4

Cover Story

Dax Campbell of Campbell Construction Installed as 2024 HBA West Florida President ......................................................................... 11

PRESIDENT’S MESSAGE

Cornerstone

I Am Proud and Excited To Represent the HBA of West Florida as Your President in 2024 .................................................. 6

FEATURE STORY

Top Colors for 2024 ................................................................................................... 8-9

HBAWF NEWS

HBA Rebates ............................................................................................................... 13 Members Doing Business with Members .................................................... 7, 17 & 19 Get Involved in HBA Councils & Committees ............................................ 6, 19 & 21 Like Us on Facebook ..................................................................................... 6, 12 & 21 HBA West Florida Announces 2023 Member Awards .............................................. 10 Top 10 Reasons To Do Business With An Active Associate Member .............. 9 & 15 Spike Club ................................................................................................................... 22

Jennifer Mancini Executive Director jennifer@hbawf.com

Next Issue: FEB 2024

NAHB NEWS

Edit: Jan 20, 2024 Display Ads: Jan 20, 2024

Future NAHB Leadership Meetings ............................................................................ 7 Single-Family Starts Surge on Falling Interest Rates ................................................ 12 New Home Sales Down in November but Should Improve Moving Forward ....... 15 New Rule Requires Small Businesses and LLCs to Report Ownership Information .............................................................................. 16 IBS 2024 ...................................................................................................................... 16 Flexibility in Potential OSHA Heat Stress Rules ....................................................... 17 NAHB and Other Groups Seek $1.2 Billion to Boost Transformer Production ...... 18 Residential Building Wages Continue to Increase ..................................................... 19 NAHB Member Savings ............................................................................................. 20

FHBA NEWS

HBA President and Executive Officer Give Industry Update to NABOR ...................... 7 FHBA Legislative Conference ........................................................................................ 7

DEPARTMENTS INDEX

Advertisers Index, Web, & Email Addresses ………….....……...........……… 22

Publisher Malcolm Ballinger Advertising Account Executives

Paula Rode, Account Executive ext. 28 paula@ballingerpublishing.com

Geneva Strange, Account Executive ext. 31 geneva@ballingerpublishing.com For advertising rates Phone: 433.1166 • Fax: 435.9174 Cornerstone, the monthly publication of the Home Builders Association 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 responsibility for, or endorse any statement or claims made by advertisers or authors of any articles. Every effort has been made to assure accuracy 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 325031910, 850.476.0318. Advertisers and advertorials in Cornerstone do not constitute an offer for sale in states where prohibited by law.

January 2024 | www.westfloridabuilders.com | page 5

President’s Message

NAHB News

I Am Proud and Excited to Represent the HBA of West Florida as Your President In 2024

A

s we start this new year, I want to take this opportunity to share some insights and thoughts on the housing industry’s outlook. With the everevolving landscape of the real estate market, it is crucial for us as developers and builders to be informed and adapt to the changing trends that impact our industry.

Interest rates will likely continue to be the most important factor for most new home buyers moving forward into the new year. It is also important that we keep an eye on the market trends and consumer demands. The housing preferences and needs of buyers may shift, so it’s important to align your offerings accordingly.

It is becoming increasingly important to consider factors such as sustainability, energy efficiency, smart home technology, and flexible work spaces, as these are more likely to gain more prominence in the coming years.

It is beneficial to foster collaboration and partnerships through HBA and engage with other stakeholders, developers, builders, lenders, and policymakers, to collectively address challenges and find innovative solutions. By working together, the HBA membership can create a more resilient and sustainable housing market for years to come.

I thank you for being a member of the Association and for your support. Happy New Year!

2024 IBS Feb. 27-29, 2024 Las Vegas, NV Las Vegas Convention Center

Dax Campbell

“By working together, the HBA membership can create a more resilient and sustainable housing market for years to come.”

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Share them with us!

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HBA Ambassadors

Meets 1st Friday of each month

Sales & Marketing Council Meets Quarterly

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Board of Directors

Meets 3rd Tuesday of each month

facebook.com/HBAWF January 2024 | Home Builders Association of West Florida | page 6

Future NAHB Leadership Meetings

Spring Leadership Meeting & Legislative Conference June 11-14, 2024 Washington, D.C. Marriott Marquis Washington, D.C. Fall Leadership Meeting Oct. 1-3, 202 San Antonio, TX JW Marriott San Antonio Hill Country

N

2025

Additional information about travel, hotel, and specific meeting dates and times will be provided on the specific meeting page for each event as it nears. The following dates and locations are subject to change.

Fall Leadership Meeting

AHB’s governance is comprised of the Leadership Council and the Board of Directors.

The Leadership Council is charged with setting the policy and priorities of the Association, furthering the work of NAHB’s committees and councils. The Leadership Council and the committees meet three times each year: during the International Builders’ Show® (IBS), the Spring Leadership Meeting and Legislative Conference, and the Fall Leadership Meeting.

IBS Feb. 25-27, 2025 Las Vegas, NV Las Vegas Convention Center Spring Leadership Meeting & Legislative Conference June 10-13, 2025 Washington, D.C. Marriott Marquis Washington, D.C. Sept. 22-24, 2025 Denver, CO Hyatt Regency Denver at Colorado Convention Center

If you do

BUSINESS

with previous members, please give them a call and reinforce the value of membership as well as the importance of

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January 2024 | www.westfloridabuilders.com | page 7

Feature Story Cracked Pepper by Behr. Photo courtesy of Behr.

A

change in color can be an immediate mood booster in any space, and a new year is a great time for a refresh.

With so many options available, though, it may seem daunting to choose. Here are the top styles that paint manufacturers have chosen as their colors of the year for 2024 as a guide.

Warm and Soft Wellness has become a key component in the home in the postpandemic era, and creating a comfortable environment — whether through building techniques or interior design — is critical for a space where everyone can live, play and work. Paint manufacturers are taking notice, as shown by the warm, soft hues they’ve selected for 2024.

Here are some examples: • Pantone – Peach Fuzz “is a heartfelt peach hue bringing a feeling of kindness and tenderness, communicating a message of caring and sharing, community and collaboration. A warm and cozy shade highlighting our desire for togetherness with others or for enjoying a moment of stillness and the feeling of sanctuary this creates, PANTONE 13-1023 Peach Fuzz presents a fresh approach to a new softness.”

Top Colors

for 2024

• HGTV Home by Sherwin-Williams – Persimmon “pulls from grounded, earthy origins, to deliver a shade that feels both uplifting and refreshing. An earthy terracotta infused with tangerine tones, naturally inspired colors like perfect Persimmon are being incorporated to soften spaces and add a personal touch to the home.”

• Glidden/PPG – Limitless, “a warm honey beige hue, reflects evolving consumer preference for softer, lighter shades in everything from automobiles to architectural elements. It

contains both the power of a primary color and the essence of a neutral to support both cool and warm tones. It even has the power to stand on its own. The possibilities are truly Limitless.”

Peaceful Blues The idea of creating a sanctuary within the home extends to other shades as well. Many paint manufacturers look toward the blue color spectrum for their colors of the year to create a serene, uplifting environment: • Sherwin-Williams – Upward, “a breezy, blissful blue. The color found when we slow down, take a breath, and allow the mind to clear.”

• Benjamin Moore – Blue Nova. “With Blue Nova leading the way, depth and intrigue are balanced by an undercurrent of reassurance. This alluring mid-tone features an enchanting duality, capturing the spotlight with endlessly classic appeal.”

Statement Colors Sometimes a new year calls for a new look, with a bold shift in appearances. If a pop of fresh color is what you’re looking for, here are a few selections to help make a statement: • Behr – Cracked Pepper, “a versatile soft black that accentuates the spaces you create life moments in.”

• Dutch Boy – Ironside, “the perfect backdrop for showcasing furniture, art and accessories. It brings an allover sense of sophisticated comfort to our 2024 Color Trend palettes – Embrace, Retreat and Inspire.”

• Rust-Oleum – Chocolate Cherry, a response “to our consumers’ need for a color that not only stands out but also provides a sense of authenticity. As neutral tones take a backseat, ‘Chocolate Cherry’ steps forward as a champion of uninhibited living.”

• C2 – Thermal. “This bespoke pale yet punchy blue is poised for adventure and brimming with hope, evoking feelings of loyalty, trust, and confidence. Its contradictory nature has the dual ability to uplift us and provide a sense of calm and tranquility.”

• Dunn-Edwards – Skipping Stones “feels like a daydream and can add a sense of mystery and thoughtfulness to any space. It’s part of the resurgence of blue and represents a shift away from the bold, warm-toned colors we’ve seen gain popularity over the past few years.”

• Krylon – Bluebird “both uplifts and comforts, making it an ideal choice to complement natural tones and textures while putting everyone at ease in every room in the house.”

• Minwax – Bay Blue is a relaxing mix of blue and green “that expands our connection to water and wellness, moving beyond the growth-focused greens of recent years for a wholly immersive color experience. It invites you to interpret design anew to create a home that’s authentically personal.”

• Valspar – Renew Blue, “a nourishing, green-influenced blue that creates a sense of peace wherever you place it.”

Blue Nova by Benjamin Moore. Photo courtesy of Benjamin Moore.

TOP 10 REASONS TO DO BUSINESS WITH AN ACTIVE ASSOCIATE MEMBER

Persimmon from HGTV Home by Sherwin-Williams. Photo courtesy of HGTV Home by Sherwin-Williams.

January 2024 | Home Builders Association of West Florida | page 8

1. They support the industry at the local, state and national levels.

5. By doing so, you increase the value proposition for all membership in our HBA.

9. They are heavily invested in your business success: You win, they win!

2. They volunteer time, talent and treasure to help the association accomplish its goals.

6. They are strong supporters of local and state PACs and BUILD-PAC.

10. Why wouldn’t you do business with a member?

3. They recruit their colleagues & business contacts to become members.

7. They are a major source of non-dues revenue through sponsorships, advertising, etc.

4. They serve on committees & councils gaining valuable networking opportunity while helping to advance the association’s mission.

8. As industry partners, they are a valuable resource for business and management tips.

January 2024 | www.westfloridabuilders.com | page 9

HBAWF News

Cover Story

HBA West Florida Announces 2023 Member Awards

H

BA West Florida presented its annual Member Awards during the Installation banquet at Sander’s Beach on December 6th. Congratulations to the recipient of the 2023 HBA Ambassador Award, Wilma Shortall (The First Bank). Ms. Wilma is a true champion of the HBA. We are so grateful for everything she does for the Association and its members.

Dax Campbell of Campbell Construction

Installed as 2024

HBA West Florida President

D

ax Campbell (Campbell Construction Company) was sworn in as the 2024 HBA West Florida President during the HBA Installation & Awards Banquet on December 6th. Congratulations Dax! We are looking forward to a fantastic year!

Amir Fooladi, Wilma Shortall and Dax Campbell

Also, congratulations to the Builder of the Year, Monte Williams (Signature Homes - accepted by Amy Scott) and the Associate of the Year, Suzanne Spann (Legacy Insurance). We greatly appreciate the time shared and effort they all made on behalf the HBA this past year.

Above: 2024 HBA Presiden, Dax Campbell Right: HBA President, Dax Campbell Takes Installation Oath

Amir Fooladi, Suzanne Pollard-Spann and Dax Campbell

Home & Auto go together.

Like you & a good neighbor.

Michael Johnson, Agent 3127 E Langley Avenue Pensacola, FL 32504 Bus: 850-478-7748 www.michaeljohnsonagency.com

Jennifer Mancini and Amy Scott (Signature Homes)

Some things in life just go together. Like home and auto insurance from State Farm®. And you with a good neighbor to help life go right. Save time and money.

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Wilma Shortall and Jennifer Mancini

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January 2024 | Home Builders Association of West Florida | page 10

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January 2024 | www.westfloridabuilders.com | page 11

NAHB News

HBAWF News annualized rate in November. Single-family permits increased 0.7% to a 976,000 unit rate. However, single-family permits are down 8.4% year-to-date. Multifamily permits decreased 8.5% to an annualized 484,000 pace.

Looking at regional permit data on a yearto-date basis, permits are 19.9% lower in the Northeast, 15.3% lower in the Midwest, 10.3% lower in the South and 12.8% lower in the West.

Source: NAHB 12/19/23

Single-Family Starts Surge

on Falling Interest Rates

S

ingle-family construction surged in November as lower mortgage rates helped to assuage affordability concerns and unleash pent-up demand for housing.

our latest builder survey, which shows a rise in builder sentiment and future sales expectations, home builders continue to contend with elevated construction and regulatory costs.”

Overall housing starts increased 14.8% in November to a seasonally adjusted annual rate of 1.56 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

“The single-family starts figure is remarkably strong, and we would not be surprised to see this figure revised lower or fall back slightly in the next month, given the nearly 20% rise in November,” said NAHB Chief Economist Robert Dietz. “NAHB is forecasting an approximate 4% gain for single-family starts in 2024, as mortgage rates settle lower, economic growth slows and inflation moves lower.”

The November reading of 1.56 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 18% to a 1.14 million seasonally adjusted annual rate. However, single-family starts are down 7.2% year-to-date. The multifamily sector, which includes apartment buildings and condos, increased 6.9% to an annualized 417,000 pace.

“Lower interest rates and a lack of resale inventory helped to provide a strong boost for new home construction in November,” said Alicia Huey, chairman of the National Association of Home Builders (NAHB) and a custom home builder and developer from Birmingham, Ala. “And while these higher starts numbers are consistent with

On a regional and year-to-date basis, combined singlefamily and multifamily starts are 16.7% lower in the Northeast, 12.3% lower in the Midwest, 6.2% lower in the South and 14.3% lower in the West.

Overall permits decreased 2.5% to a 1.46 million unit

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January 2024 | Home Builders Association of West Florida | page 12

January 2024 | www.westfloridabuilders.com | page 13

NAHB News

TOP 10 REASONS TO DO BUSINESS WITH AN ACTIVE ASSOCIATE MEMBER 1. They support the industry at the local, state and national levels.

New Home Sales Down in November but Should Improve Moving Forward

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January 2024 | Home Builders Association of West Florida | page 14

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levated mortgage rates acted as a drag on new home sales in November, but with the peak rate cycle apparently in the rear-view mirror, sales are expected to rise as we move into the new year.

Sales of newly built, singlefamily homes in November fell 12.2% to a 590,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in November was the lowest annual rate since November 2022 but sales are up 3.9% on a year-to-date basis due to a lack of resale inventory.

“New home sales activity should improve in the months ahead as mortgage interest rates settle in below a 7% rate,” said Alicia Huey, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Birmingham, Ala. “Our latest builder survey turned positive in December, with builders indicating they expect a rise in future sales.”

“New home sales were weaker in November as mortgage interest rates likely reached a cycle peak at a 7.79% per Freddie Mac at the end of October,” said NAHB Chief Economist Robert Dietz. “Mortgage rates have since moved lower, with Freddie Mac reporting a 30-

year fixed-rate of 6.67% this past week.”

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the November reading of 590,000 units is the number of homes that would sell if this pace continued for the next 12 months.

New single-family home inventory in November jumped to the highest level since November 2022, rising 16.5% from the previous month to 451,000.

This represents a 9.2 months’ supply at the current building pace. A measure near a 6 months’ supply is considered balanced. However, the market currently requires a higher level of new construction inventory due to a persistent lack of resale inventory. Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.

The median new home sale price in November was $434,700, up 4.8% from October, and down 5.9% compared to a year ago.

Regionally, on a year-to-date basis, new home sales are up in all four regions: up 4.9% in the Northeast, 3.6% in the Midwest and 4.4% in the South and 2.6% in the West.

Source: NAHB 12/22/23

2. They volunteer time, talent and treasure to help the association accomplish its goals.

3. They recruit their colleagues and business contacts to become members.

4. They serve on committees and councils gaining valuable networking opportunity while helping to advance the association’s mission.

5. By doing so, you increase the value proposition for all membership in our HBA. 6. They are strong supporters of local and state PACs and BUILD-PAC. 7. They are a major source of non-dues revenue through sponsorships, advertising, etc.

8. As industry partners, they are a valuable resource for business and management tips.

9. They are heavily invested in your business success: You win, they win!

10. Why wouldn’t you do business with a member?

January 2024 | www.westfloridabuilders.com | page 15

NAHB News

NAHB News • have 20 or fewer full-time employees; and

out the year, making a nationwide high-heat trigger temperature impractical.

• filed federal income taxes in the previous year demonstrating $5 million or less in gross receipts or sales.

NAHB supports allowing businesses to have the ability to choose from multiple compliance options and the ability to select the best methods for protecting their employees from extreme heat hazards in ways that are workable, flexible and cost-effective.

There are 23 types of entities that are exemptfrom reporting beneficial ownership. Those entities include: • publicly traded companies meeting specified requirements

When considering the subcontractor-heavy nature of residential construction, NAHB strongly urged OSHA to establish that each employer on site is responsible for providing water to its own workers as part of any heat-related standard.

• many nonprofits • certain large operating companies

New Rule Requires Small

Businesses and LLCs to

Reporting companies that were created before Jan. 1, 2024 have until Jan. 1, 2025 to file their initial report with FinCEN. Those created in 2024 will have 90 days after receiving notice of their creation or registration to file their initial report. Those created in 2025 will have 30 days to file their report.

The CTA helps the U.S. government identify money laundering, corruption, tax evasion, drug trafficking, fraud and other crimes.

Congress passed the CTA to make it harder for these illegal activities and their perpetrators to hide from law enforcement officials.

Report Ownership Information NAHB has provided answers to frequently asked questions and

A

s of Jan. 1, 2024, many businesses will be required to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) to identify those who directly or indirectly own or control the company. This requirement stems from the enactment of the Corporate Transparency Act (CTA) passed with the National Defense Authorization Act for Fiscal Year 2021.

NAHB Resources and Free Webinar

links to key resources here at https://www.nahb.org/advocacy/legalissues/corporate-transparency-act-beneficial-ownership-reporting NAHB will also host a free webinar about these new requirements on Wednesday, Jan. 17, at 2 p.m. ET. The webinar will feature David King, a senior regulations advisor at FinCEN, who will provide further details on what business owners need to do to comply.

Visit NAHB website to register for the free webinar here: The reporting requirements generally are applicable to small https://us06web.zoom.us/webinar/register/ corporations, limited liability companies (LLCs) and other similar WN_D9J_-x4NSQqdH0yReTHR3A#/registration entities that:

Read the full comment letter. NAHB also signed on to a similar comments letter submitted by the Construction Industry Safety Coalition, whose members include dozens of other constructionrelated trade associations.

A new potential heat stress standard from OSHA would have a profound impact on the home building industry. NAHB will remain engaged in the rulemaking process at every step.

Flexibility in Potential OSHA Heat Stress Rules

Source NAHB 1/5/24

NAHB recently submitted formal comments on a potential new workplace standard being considered by OSHA to protect workers from heat-related illness and injury. NAHB feels the regulation is unnecessary, but should it proceed, OSHA needs to ensure companies have flexibility in compliance options.

O

SHA announced in October 2021 that it is considering a new standard that would “more clearly set forth employer obligations and the measures necessary to protect employees more effectively from hazardous heat.” The agency has revealed potential contours of a new rule, including a few specifics, but has not issued a formal proposal yet.

OSHA convened Small Business Advocacy Review (SBAR) Panels last fall to get feedback from small businesses on the impact a heat safety standard might have on their operations. Over two weeks in September, 82 small businesses, including at least one NAHB member, participated in video conference calls.

A report from those panels made specific recommendations to OSHA on how to best tailor a heat injury standard to have the least impact on small businesses. NAHB’s most recent comments addressed the recommendations from the small business panel report.

NAHB strongly supports regulations that protects construction workers from illness, injury and death. But the current contours of the potential heat stress standard are largely unworkable, confusing and rigid.

For example, OSHA is considering heat triggers at specific temperatures to signal to business owners when new requirements kick in. A temperature of 86 degrees Fahrenheit could trigger new “high-heat” safety requirements, including mandating specific amounts of water per worker. Several NAHB members who primarily work in the southwest and other regions indicated the proposed temperature is reached during a majority of days through-

January 2024 | Home Builders Association of West Florida | page 16

If you do business with previous members, please give them a call and reinforce the value of membership as well as the importance of Members Doing Business

with Members

January 2024 | www.westfloridabuilders.com | page 17

NAHB News

NAHB News According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers was $30.71 per hour in November 2023, increasing 4.0% from $29.52 per hour a year ago. This was 14.1% higher than the manufacturing’s average hourly earnings of $26.91 per hour, 8.9% higher than transportation and warehousing ($28.19 per hour), and 12.0% lower than mining and logging ($34.91 per hour).

Wage growth has been below 4.0% in the past twelve months.

November’s acceleration in wage growth reflects an imbalance in the construction labor market. Demand for construction labor remained strong. Indeed, the construction labor market moved in the opposite direction of the overall economy. As mentioned in the latest JOLTS blog, the number of open construction jobs rose to 459,000 in November, as the count of total job openings for the economy declined to 8.8 million.

Source : NAHB Eye on Housing 1/8/24

NAHB and Other Groups Seek

$1.2 Billion to Boost

Transformer Production

N

AHB and a coalition of energy, grid and builder associations have worked with Senate leaders to include an additional $1.2 billion in a spending bill to boost the production of sorely needed distribution transformers.

This is a critical issue for the housing industry, as NAHB members have reported that wait times for transformers often range from 12 to 24 months, and in some isolated cases, the lag time approaches three years. These delays are worsened by the fact that transformer prices have increased by 85% since the first quarter of 2018.

In a joint letter sent to Republican and Democratic Senate leaders, the coalition strongly supported a provision in the Senate Energy and Water Development Appropriations bill that specifically addresses the growing supply-chain crisis for distribution transformers.

“NAHB commends Senate leaders for working in a bipartisan manner to include $1.2 billion in supplemental funding to boost the production of sorely needed distribution transformers,” said NAHB Chairman Alicia Huey. “Soaring prices and shortages of electrical distribution transformers are delaying housing projects across the nation and increasing construction costs. Providing additional funding to boost production of distribution transformers will help home builders to construct more homes, satisfy unmet demand and ease America’s housing affordability crisis.”

Other members of the coalition include the American Public Power Association, Edison Electric Institute, The GridWise Alliance, the Leading Builders of America, the National Electrical Manufacturers Association and the National Rural Electric Cooperative Association.

“NAHB members have reported that wait times for transformers often range from 12 to 24 months...”

Residential Building Wages

Continue to Increase

T

he year-over-year (YOY) growth rate for residential building worker wages decelerated to 0.6% in June 2023. Over the past five months, wage growth accelerated moderately and reached 4.0% in November.

Overall, average hourly earnings for residential building workers* increased at a relatively slower pace in the past year, compared to the peak rate of 8% in October 2021.

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Source NAHB 1/5/24

January 2024 | Home Builders Association of West Florida | page 18

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January 2024 | Home Builders Association of West Florida | page 20

January 2024 | www.westfloridabuilders.com | page 21

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 recruitment and retention of members in addition to keeping members active with the association. Anyone is eligible for Spike status. On Spike credit is awarded for each new member recruited and an additional credit is awarded for that new member’s renewal on or before their anniversary date. If you help to retain a member, you are eligible to receive a half point for each member.

Spike Club Levels Spike Candidate Blue Spike Life Spike Green Spike Red Spike Royal Spike Super Spike Statesman Spike Grand Spike All-Time Big Spike

1-5 credits 6-24 25-49 50-99 100-149 150-249 250-499 500-999 1000-1499 1500+

Spike Club Members and their credits as of 09/30/2023.

Statesman Spike 500 Credits Harold Logan 525.5 Super Spike Rod Hurston

250 Credits 432.5

Royal Spike Rick Sprague Edwin Henry William “Billy” Moore Bob Boccanfuso

150 Credits 210.5 201.5 184 165.5

Red Spike harlie Rotenberry Oliver Gore Ron Tuttle Newman Rodgers IV Ricky Wiggins

100 Credits 150 115 110 102 101.5

David Holcomb

100.5

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

50 Credits 90.5 80.5 73.5 70 68.5 60 58.5 52.5 51.5 51.5

John Hattaway

50

Life Spike Doug Whitfield Amir Fooladi Suzanne Pollard-Spann Garrett Walton Bruce Carpenter III 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

25 Credits 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

Kim Cheney

10

Spike Credits Shelby Johnson Mary Jordan Kevin Russell James Cronley Shellie Isakson Smith Rodney Boutwell Dax Campbell

9.5 9.5 9.5 9 8 7 7.5

Advertiser’s Index Alpha Closets p 850.934.9130 AlphaClosets.com

23

Ballinger Publishing p 850.443.1166 ballingerpublishing.com

7 & 21

Campbell Construction & Company, LLC 14 p 850.698.4153 dax.campbellconstruction@gmail.com Force 5 Walls p 251.213.2423 p 251.213.9255 force5walls.com

3

Gulf Coast Insurance p 850.497.6810 gcins.com

14

Michael Johnson Insurance Agency p 850.478.7748 michaeljohnsonagency.com

11

Pensacola Energy o 850.436.5050 pensacolaenergy.com

2

REW Building Materials, Inc. o 850.471.6291 c 850.259.7756 ecbmfl.com

14

West Fraser westfraser.com/osb

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If you would like to join the Spike Club or Desire Additional Information, please contact Vicki Pelletier (850) 476-0318

January 2024 | Home Builders Association of West Florida | page 22

January 2024 | www.westfloridabuilders.com | page 23

January 2024 | Home Builders Association of West Florida | page 24