Built On Great Relationships

from March 2023 Building Connections

Pyramid Illustrates Housing Affordability Crisis

We are proud to work with the top builders, designers and remodelers in Connecticut. Your considerable talents enhance the lives of people – and we are thrilled to play a part in your success.

“To help us deliver our designs, we trust Bender and their amazing showrooms and consultants. They make the whole process come together seamlessly.”

Jonathan Gordon, Design by the Jonathans

X Design Consultation including on-site walk-throughs and Recessed lighting layouts

X Large offering and inventory of integrated LED Recessed Lighting

X Indoor and Outdoor Lighting for all applications

X Door, Cabinet & Bath Hardware

X Motorized & Manual Window Shades

X Lutron Lighting Controls

Standard Wallbox to HomeWorks

X Bath Ventilation Fans

X Builder programs

Builders Speak Out Against Proposed Transformer Rule

More than 65 builders and members of utility organizations took part in a March 14 energy roundtable teleconference hosted by the U.S. Small Business Administration Office of Advocacy to air their strong concerns about the Department of Energy’s (DOE) proposed rule to regulate energy conservation standards for distribution transformers.

At a time when the home building industry is facing a severe shortage of electrical transformers, the proposed rule would dictate that manufacturers increase the efficiency of distribution transformers by a mere tenth of a percentage point.

Uncertain

Although high construction costs and elevated interest rates continue to hamper housing affordability, builders expressed cautious optimism in March as a lack of existing inventory is shifting demand to the new home market.

Builder confidence in the market for newly built single-family homes in March rose two points to 44, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This is the third straight monthly increase in builder sentiment levels.

As part of its Member Mental Health and Wellness Initiative, NAHB has been partnered with Dr. Sally Spencer-Thomas to conduct a pilot program with the North Carolina Home Builders Association called “Blueprint for Worker Well-Being.”

The goal of the pilot program, supported by a grant from the JobSite Safety Institute, is to develop a strategic plan for mental health awareness promotion and suicide prevention that can be replicated by other associations within the NAHB Federation.

A key component of that program involves storytelling. According to Dr. Spencer-Thomas, storytelling is our most powerful tool to reduce mental health stigma, which is arguably the biggest barrier in any construction mental health initiative.

60% of a Home’s Sales Price Goes to Construction Costs

NAHB’s latest Cost of Construction Survey reveals that 60.8% of the average home sales price consisted of construction costs in 2022, similar to the 61.1% breakdown posted in 2019. Since the inception of this series in 1998, this is just the fourth time construction costs represent over 60% of the total price of the home — it was 61.7% in 2013 and 61.8% in 2015.

How to Improve Your Marketing Strategy

Studies show that those who are in the market for a new home will research builders online for an average of nearly two years. However, after making initial contact with a builder, most customers will be under contract for their new home within just one month.

Courtney Stewart, vice president of client services for Denim Marketing and industry marketing expert, says maintaining an engaging company website and social media presence is the foundation for attracting new customers and generating more business.

“Marketing is necessary for home building because it helps consumers feel more confident in their choice,” Stewart said at an enrichment session hosted by NAHB Young Professionals at the International Builders’ Show last month. “People need to be aware of your brand, and they will make the purchasing decision much more quickly when they are more informed about your services.”

NAHB Leaders Make Housing Front and Center on Capitol Hill

Addressing a wide range of legislative and regulatory issues with serious repercussions for the nation’s supply of affordably priced housing, NAHB Chairman Alicia Huey and First Vice Chairman Carl Harris met with congressional leaders on Capitol Hill over the past 48 hours to pursue a strong national agenda for housing.