Before the Storm: Natural gas lines require you to take no special precautions. There is no need to turn off your gas meter.
During the Storm: Most natural gas cooking and water heating appliances will continue to operate safely without electricity. Some may require that you manually light the pilot, and this should be done according to the appliance manufacturer’s instructions.
We Are Your Energy
Get up to $3,000 in rebates when you convert to natural gas. Get all the details at PensacolaEnergy.com or call 850-436-5050.
2025 Leadership Board
Austin Tenpenny President aDoor Properties
Josh Rayls Secretary Holiday Builders
Wilma Shortall Past 2nd Vice President The First Bank
Heath Kelly 1st Vice President
Heath Kelly Construction
Kevin Sluder 2rd Vice President Gene’s Floor Covering
Innovation: A Key to Weathering Shifting Market Dynamics
As we continue to face economic uncertainty and shifting market dynamics, innovation has never been more important in the home building industry. In challenging times, it’s often our ability to adapt and think creatively that determines our success.
One area where we’re seeing real impact is in the design and execution of floorplans. More and more builders are embracing streamlined, efficient designs that maximize livable space while minimizing construction costs. Open-concept layouts, flexible rooms that serve multiple purposes, and value-engineered materials are helping builders deliver homes that meet today’s buyers’ needs—without breaking the bank.
But innovation doesn’t stop at the drafting table. Creative sales strategies are also making a difference in this competitive market. Builders are connecting with buyers through virtual tours, targeted online marketing, and unique financing incentives—fresh approaches that help us stand out and keep projects moving forward, even when the broader economy slows.
Beyond design and marketing, there are several other strategies builders can adopt to navigate these tough times:
• Focus on customer relationships: Maintaining clear communication and building trust can improve sales conversions and generate valuable referrals.
• Lean on local partnerships: Working closely with suppliers, subcontractors, and lenders can help negotiate better terms and streamline the supply chain.
• Optimize project scheduling: Efficient management reduces holding costs and delays, with phased deliveries helping maintain steady cash flow.
• Explore alternative financing: Offering lease-to-own or builder-assisted down payment options can expand your buyer pool despite tighter credit markets.
• Invest in training and retention: A skilled, stable workforce lowers costly rework and keeps projects on schedule.
• Market value, not just price: Emphasize quality, energy efficiency, and warranty benefits to assure buyers of the lasting worth of their investment.
• Stay agile with product mix: Adjust home models and price points based on market feedback to better align inventory with buyer demand.
At the Home Builders Association of West Florida, we’re committed to supporting your efforts to innovate and thrive. From sharing the latest trends to fostering connections between members, our association is a resource for finding new ideas and putting them into practice.
Let’s continue to embrace innovation together—not just as a buzzword, but as a real tool to build a stronger, more resilient future for our industry.
Warm regards,
Austin Tenpenny President, Home Builders Association of West Florida
JUNE IS NATIONAL HOMEOWNERSHIP MONTH
National Homeownership Month in June shines a spotlight on supporting the American Dream of homeownership. It’s also a time to celebrate organizations, like NAHB that help individuals and families to achieve their goal of home ownership.
In 1995, National Homeownership Week began as a strategy of President William Clinton’s administration to increase homeownership across the nation. In 2002, President George W. Bush expanded the observance to the entire month of June.
Americans view homeownership as more than just a financial investment—it’s a symbol of stability, independence, and long-term security. Key reasons people value owning a home include:
• Building equity and generational wealth
• Having a place to call their own
• Creating a stable environment for family
• Freedom to personalize and renovate
• A sense of community and belonging
“National Homeownership Month is a time to celebrate how HUD helps support and expand opportunities for American homeownership
nationwide,” said U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner. “We have achieved so much under President Trump’s leadership in the past few months alone: cutting regulations, pursuing innovative housing solutions, and helping American families, including many firsttime homebuyers, to make the American Dream a reality. These accomplishments are only the beginning as we advance the Golden Age of homeownership for rural, tribal and urban communities.” Recent accomplishments include:
Removing Regulatory Red Tape
HUD is streamlining pathways to build and manufacture homes by eliminating burdensome regulations such as the Affirmatively Furthering Fair Housing(AFFH) rule.
Increasing Housing Supply & Affordability
HUD is supporting Opportunity Zones and Manufactured Housing Programs – one of the most affordable and non-subsidized housing options, representing 10% of new single-family home starts and the homes of 22 million people in the United States.
Serving Native American Communities
HUD is empowering Native American homeownership through its Section 184 program, which has guaranteed over 58,500 mortgages, representing $10.5 billion in investments to Tribes, Tribal housing authorities, and Tribal members. It’s one of the lowestcost, lowest-risk, and highest impact tools available.
Expanding Access to American Homeownership
HUD is helping over 7 million households through the Federal Housing Administration (FHA), one of the world’s largest mortgage insurers. Since January 20, 2025, FHA has insured 236,000 mortgages - including 140,000 for first-time homebuyers. Additionally, nearly three quarters of Ginnie Mae’s 2025 issuances have backed first-time homebuyers, who make up nearly 40% of Ginnie Mae’s total portfolio.
Supporting Resilience & Disaster Recovery
HUD is supporting disaster recovery with extended FHA moratoriums in areas such as California and Florida providing flexibility to families in the Presidentially Declared Major Disaster Area.
Volatile Spring Selling Season Continues
The Census estimate of new home sales posted an unexpected gain in April, even as builders and consumers continue to deal with economic uncertainty, elevated interest rates and rising building material costs.
Sales of newly built, single-family homes in April increased 10.9% to a 743,000 seasonally adjusted annual rate from a downwardly revised March number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in April was up 3.3% compared to a year earlier.
The April new home sales figure may be revised as it runs counter to market commentary and the fact that builder sentiment moved markedly lower in May. A less volatile look at the market would be the year-to-date figures, which show new home sales are down 1.2% thus far in 2025 on elevated interest rates, ongoing policy uncertainty and rising construction costs.
Rising inventory in the resale market is likely to place pressure on both pricing and sales activity for home builders during the second half of the year. The April new home data reflects this as new home inventory is leveling off near a half million of residences marketed for sale, up just 1.6% from January.
In April, new home inventory totaled 504,000 residences marketed for sale. While this is 8.6% higher than a year ago, it is only 1.6% higher from January. At the current sales pace, the months’ supply for new home stands at 8.1 compared to 7.7 a year ago.
To further illustrate the challenges builders are facing during the spring home buying season, 61% of home builders are using various kinds of sales incentives, including mortgage rate buydowns, to facilitate sales due to lackluster demand.
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 April reading of 743,000 units is the number of homes that would sell if this pace continued for the next 12 months. This estimate may be revised lower next month.
Further, when accounting for existing, single-family home sales (a market which is showing rising inventory levels), total home inventory (new plus existing homes) is at a 4.8 months’ supply as of April. This is up from 4.6 from March and up from 4.1 from a year ago. The current reading is the highest since late 2015. Prior analysis indicates that the market will face notable inventory impacts on production as this measure approaches 5.5.
The median new home sale price in April was $407,200, compared to $415,300 a year ago.
Regionally, on a year-to-date basis, new home sales are down 32.5% in the Northeast, 14.8% in the Midwest and 2.4% in the West. Sales are up 5.7% in the South.
Source: NAHB Eye on Housing
Custom Home Building Trends
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates flat year-over year growth for custom home builders. The custom building market is less sensitive to the interest rate cycle than other forms of home building but is more sensitive to changes in household wealth and stock prices.
There were 34,000 total custom building starts during the first quarter of 2025. This was unchanged relative to the first quarter of 2024. Over the last four quarters, custom housing starts totaled 181,000 homes, just more than a 2% increase compared to the prior four quarter total (177,000).
Currently, the market share of custom home building, based on a one-year moving average, is approximately 18% of total single-family starts. This is down from a prior cycle peak of 31.5% set during the second quarter of 2009 and the 21% recent peak rate at the beginning of 2023, after which spec home building gained market share.
Note that this definition of custom home building does not include homes intended for sale, so the analysis in this post uses a narrow definition of the sector. It represents home construction undertaken on a contract basis for which the builder does not hold tax basis in the structure during construction.
Source: NAHB Eye on Housing
Gap Between New and Existing Home Prices Narrows
As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, home buyers are discovering a narrow price gap between new and existing homes. During the first quarter of 2025, the median sales price of a new home was just $14,600 more than an existing home.
“Home builders are committed to ensuring everyone who values homeownership has the opportunity to attain a safe, affordable home,” said NAHB Chairman Buddy Hughes, a home builder and developer from Lexington, N.C. “High construction costs and labor shortages continue to be challenges for the residential construction industry.”
The median price for a new single-family home sold in the first quarter of 2025 was $416,900, only $14,600 above the existing home sale price of $402,300, according to NAHB analysis of U.S. Census Bureau and National Association of Realtors data. The average difference over the last five years was $26,700, while the decade prior (2010-2019) saw a much wider gap of $66,000.
There are several reasons why new and existing homes are selling at similar price points. For existing homes,
tight inventory continues to push up prices. Many home owners who secured low mortgage rates during the pandemic are hesitant to sell due to elevated interest rates. Both new and existing homes saw dramatic increases in prices post-pandemic due to higher construction costs and limited supply.
Overall, home prices remain elevated compared to historical norms. However, home builders are adapting to affordability challenges by building on smaller lots, constructing smaller homes, and offering incentives.
According to the NAHB/Wells Fargo Housing Market Index (HMI), 34% of builders cut home prices in May, up from 29% in April and the highest level since December 2023 (36%). More than half of home builders (61%) used various sales incentives, including mortgage rate buydowns.
On June 11, builders from across the country will meet with lawmakers on Capitol Hill in Washington, D.C., to discuss solutions to boosting the housing supply and increase affordability. More than four out of five Americans (82%) agree that housing affordability is a problem in the city or county where they live, according to a recent surveyconducted by the polling firm Morning Consult on behalf of NAHB.
Swift Supply Donates DeWalt Table Saw to AMIkids Pensacola
AMIkids Pensacola Workforce Development Program extended their heartfelt thanks for Swift Supply’s generous donation of the DeWalt Table Saw. Executive Director Monti Summer also thanked the HBA Workforce Development/Tradesmen Committee for making the request of Swift Supply and for organizing the recent facility tour. This gift has already made a meaningful impact. The saw has already been used to build new shelving for a clothing closet—an essential resource that allows students to access professional attire as they prepare for job interviews and new employment opportunities. Because of this support, the young men and women are literally dressing for success, walking into interviews with confidence and pride. AMIkids Pensacola strives to equip students not only with vocational skills but also with the tools and mindset to build a brighter future. Monti said that the donation is more than a piece of equipment—it’s a symbol of belief in their potential. It’s helping transform lives. Great job, Swift Supply!
SPIKE CLUB
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 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 03/31/2025.
