NCBIA November 2022 BUILDER Newsletter

North Coast Building Industry Association (NCBIA) BUILDER newsletter is the official newsletter of the NCBIA and is published monthly by the NCBIA. The NCBIA is an affiliate of the Ohio Home Builders Association (OHBA) & the National Association of Home Builders (NAHB).

NCBIA Office

5077 Waterford Dr. Suite 302 Sheffield Village, OH 44035

Phone: 440.934.1090 info@ncbia.com | www.ncbia.com

NCBIA Staff Executive Officer

Judie Docs | judie@ncbia.com

Executive Assistant LaBreeska Bellan | labreeskancbia@gmail.com

Marketing Associate Ashlyn Bellan | ashlynncbia@gmail.com

2022 NCBIA Officers

President

Sara Majzun, Majzun Construction Co. Vice President

Tim King, K. Hovnanian Homes - Ohio Division Associate Vice President

John Toth, Floor Coverings International Treasurer

Melanie Stock, Treasurer, First Federal Savings of Lorain Secretary

Mike Meszes, Secretary, DRC Construction Co.

2022 NCBIA Board of Directors

Sam Hudspath, All Construction Services

Dan Bennett, Bennett Builders & Remodelers

Kevin Walker, Great Lakes Properties & Investments

Dave Linna, Linna Homes & Remodeling

Jason Rodriguez, Lorain County Joint Vocational School

Mike Gidich, MDG Maintenance, LLC

Brian Schwab, RestorePro, Inc.

Dave Weisenberger, Tusing Builders & Roofing Services

Advertising Policy - The North Coast Building Industry Association reserves the right to reject advertising in the Builder newsletter based on content. Acceptance of advertising does not imply endorsement of the product or service advertised.

NCBIA Life Directors

Jeremy Vorndran, 84 Lumber

Tom Caruso, Caruso Cabinets

Bob Yost, Dale Yost Construction

Liz Schneider Dollar Bank

Mary H. Felton, Guardian Title

Jack Kousma, Kousma Insulation

Jeff Hensley, Lake Star Building & Remodeling

Chris Majzun Sr., Majzun Construction Co. Chris S. Majzun Jr., Majzun Construction Co. Jim Sprague, Maloney + Novotny, LLC

Randy Strauss, Strauss Construction Tom Lahetta, Tom Lahetta Builders, Inc.

2022 NAHB Delegates

These are our members who represent our local industry in Washington DC and Columbus: Randy Strauss, Strauss Construction Jack Kousma, Kousma Insulation (alternate)

NAHB Senior Life Delegate Randy Strauss, Strauss Construction

Ohio’s State Rep. to NAHB

Ric Johnson, CAPS Builder & Right at Home Technologies

OHBA Past Presidents Randy Strauss, 1996

2022 OHBA Trustees

Randy Strauss, Strauss Construction Sara Majzun, Majzun Construction Co. (alternate) Mary Felton, Guardian Title (alternate)

OHBA Area 2 Vice-President Ric Johnson, CAPS Builder & Right at Home Technologies

HOW CAN WE HELP?

North Coast Building Industry Association Menu of Additional Products and Services

Copies Equipment

HOW CAN WE HELP?

North Coast Building Industry Association Menu of Additional Products and Services

Copies Equipment

Black & White

Single Sided 2-Sided

Black & White

Single Sided 2-Sided

Black & White (11”x17”)

Color Color Color

Single Sided 2-Sided

(8.5”x11”) (8.5”x14”)

Single Sided 2-Sided

(11”x17”)

(8.5”x11”)

(8.5”x14”)

$0.10 $0.20 $0.15 $0.20 $0.50 $0.25 $0.50 $0.27 $0.52 $2.00

Design Services

$35 per hour

Contact Ashlyn Bellan at ashlynncbia@gmail.com

$100 per day

Warranty Books

$30 each (plus shipping, if applicable)

Raffle Boards, Drum & Equipment Graphic Design Services

NEED SOMETHING ELSE? JUST ASK!

For more information on any of these products & services, please contact the NCBIA Office at (440) 934-1090 or email judie@ncbia.com

Black & White

Black & White

$100 per day

Color

Single Sided 2-Sided Single Sided 2-Sided

Color

Single Sided 2-Sided

Color

(8.5”x11”) (8.5”x14”) Black & White (11”x17”) (8.5”x11”) (8.5”x14”) (11”x17”)

Design Services

Raffle Boards, Drum & Equipment Graphic Design Services

Warranty Books

(plus shipping, if

For a limited time, Verizon is offering a 10-year price guarantee, one month free and prices as low as $69/month. Restrictions apply. · Offer: 5G Business Internet 10-year price guarantee¹ · Details: Customers’ rates will not increase for 10 years. · Offer: Get one month of 5G Business Internet on Verizon²

· Details: New, qualified customers will receive one month of 5G Business Internet on Verizon with the purchase of a 200 Mbps or 400 Mbps 5G Business Internet plan.

Want to be a sponsor for any of these events? Let us know! Sponsor early to get maximum exposure!!!!!

Call or email Judie at judie@ncbia.com for marketing opportunities to help your bottom line!!!!!

Thursday, December 15th

Deadline for Circle of Excellence Entries

&

Ugly Sweater Christmas Party

5:00-8:00 PM Captain's Club 232 Park Ave, Amherst

Wednesday, January 11th Executive Committee 3:00-5:00 PM Board of Directors 5:00-6:30 PM Clubhouse at the Preserve at French Creek 5800 Preserve Drive, Sheffield Village

Saturday, January 21st CELEBRATE!

Installation of our 2023 Officers & Board of Directors

5:30-11:00 PM Tom's Country Place 3442 Stoney Ridge Rd, Avon

Saturday, February 25thSunday, February 26th 2023 NCBIA

Annual Home Show

Sat. 9:00 AM -5:00 PM

Sun. 10:00 AM -3:00 PM Emerald Event Center 33040 Just Imagine Drive, Avon

If you would like to participate in a committee, please email Judie Docs at judiencbia@gmail.com.

Check the website at www.ncbia.com for up-to-date changes, additions, and corrections to these events!

Do you have some business news to share? Business anniversaries, accomplishments, awards, publications, etc.? Send to judie@ncbia.com. We want to hear from you!

by Judie Docs, CSP, MCSP, MIRM, CMP, CGP

NOVEMBER IS...

Spike Appreciation Month

As you might know November is Spike Appreciation Month, a time when all HBAs are encouraged to thank the dedicated “Spikes” for their outstanding achievements in member recruitment and retention.

Spikes are the backbone of our association. They have found the benefits of membership that they are passionate about and expertly share that information to recruit new members. Thank you to our Spikes who continue to grow our association.

I would be remiss if I did not thank my dedicated staff, LaBreeska and Ashlyn Bellan, along with active members who give their time and energy to make this a great association. And a group that never gets thanked, our Officers and Board of Directors, the driving force behind the association. The policy makers and the members who lead us to make this the best association it can be

- Thank you! I hope you all have a great Thanksgiving and continue to have a wonderful holiday season!!!

SPEC SQUARE FOOT PRICES Skyrocket in 2021

BY: NATALIA SINIAVSKAIA

Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2021 increased 19%, according to NAHB’s analysis of the latest Survey of Construction data. Increases for square foot prices in new custom SFD homes were more moderate, averaging 5%. Median sale and contract prices per square foot of floor area went up across all US regions, undoubtedly, reflecting skyrocketing building materials prices and fast rising labor costs that pummeled home building in 2021.

Contract prices of custom, or contractor-built, homes do not include value of improved lot as these homes are built on owner’s land (with either the owner or a contractor acting as a general contractor). Consequently, contract prices are typically lower than sale prices of spec homes. To make comparison more meaningful, the cost of lot development is excluded from sale prices in this analysis.

In the for-sale market, the Pacific and New England divisions registered the highest median prices. Half of new for-sale single-family detached homes started in these divisions in 2021 were sold at prices exceeding $206 and $198 per square foot of floor area, respectively, paid on top of the most expensive lot values in the nation. The most economical SFD spec homes were started in the South region, where the median sale prices per square foot were below the national medians.

The East South Central division is home to the least expensive for-sale homes. Half of all for-sale SFD homes started here in 2021 registered square foot prices of $111 or lower, paid on top of the most economical lot values in the country. The other two divisions in the South – West South Central and South Atlantic – also registered median prices below the national median of $132 per square foot of floor area. Their corresponding prices are $125 and $123 per square foot, excluding improved lot values.

Because square foot prices in this analysis exclude the cost of developed lot, highly variant land values cannot explain the regional differences in square foot prices. However, overly restrictive zoning practices, more stringent construction codes and higher other regulatory costs undoubtedly contribute to higher per square foot prices. Regional differences in the types of homes, prevalent features and materials used in construction also contribute to price differences. In the South, for example, lower square foot prices partially reflect less frequent regional occurrence of such costly new home features as basements

In the custom home market, new contractor-built SFD homes in the New England are by far most expensive to build. Half of custom SFD homes started in New England in 2021 registered prices in excess of $200 per square foot of floor area. The median custom square foot prices in the neighboring Mid Atlantic division were $154 per square foot – third highest in the nation. The Mountain division came in second with the median of $160 per square foot of floor space.

The East North Central division had similarly high cu`stom square foot prices. Half of custom SFD started in the East North Central in 2021 had prices of $150 per square foot or higher. The corresponding median price in the West North Central was $140. The South Atlantic division is where most economical custom homes were started in 2021 with half of new custom homes registering prices at or below $108 per square foot. The remaining two divisions in the South – East South Central and West South Central – recorded slightly higher median square foot contract prices of $123 and $120 – all below the national median of $131.

Typically, contractor-built custom homes have been more expensive per square foot than for-sale homes after excluding improved lot values. Over the last two decades, this custom home premium averaged slightly above 9%, suggesting that new custom home buyers were not only willing to wait longer to move into a new home but also pay extra for pricier features and materials. However, these custom home premiums largely disappeared in 2021 when median square foot prices for new for-sale homes caught up and, in five divisions, exceeded divisional custom homes square foot prices.

Pandemic-induced supply chain disruptions, skyrocketing building materials costs and home prices setting new records on a monthly basis, combined with shorter build times for spec homes and more flexibility that spec builders have in delaying sales to keep up with the production pace – all likely contributed to a faster appreciation of spec home prices per square foot. It is possible the custom home premium per square foot will return to normal levels in the postpandemic market or even reach higher levels, similar to the elevated readings of the housing bust and slow recovery of the late 2000s, if the housing market finds itself in a deep recession.

The NAHB estimates in this post are based on the Survey of Construction (SOC) data. The survey information comes from interviews of builders and owners of the selected new houses. The reported prices are medians, meaning that half of all builders reported higher per square foot prices and the other half reported prices lower than the median. While the reported median prices cannot reflect the price variability within a division, and even less so within a metro area, they, nevertheless, highlight the regional differences in square foot prices.

For the square footage statistics, the SOC uses all completely finished floor space, including space in basements and attics with finished walls, floors, and ceilings. This does not include a garage, carport, porch, unfinished attic or utility room, or any unfinished area of the basement.

CALENDAR

OF EVENTS

THIRD QUARTER OF 2022 Homeownership Rate at 66%

BY: NA ZHAO

The Census Bureau’s Housing Vacancy Survey (CPS/ HVS) reported the U.S. homeownership rate at 66% in the third quarter of 2022, which is statistically unchanged from the last quarter reading (65.8%). It is 0.6 percentage points higher than the rate in the third quarter of 2021. The national rental vacancy rate rose to 6%, while the homeowner vacancy rate inched up to 0.9%. The homeowner vacancy rate is still hovering near the lowest rate in the survey’s 66-year history (0.9%).

The homeownership rates of adults in all age groups increased over the last year, except those householders aged 65 years and over experienced decrease. The homeownership rates among households aged 45-54 registered the largest gains among all age groups, from 70.1% to 71.4%, followed by householders aged 35-44 with 1.2 percentage point increase from 61.3% to 62.5%. Households aged less than 35 experienced a modest 0.8 percentage point increase. However, homeownership rates of householders aged 65+ showed a decline of 0.2 percentage points.

The covid-induced data collection restrictions have ended in all areas as of the last quarter of 2021. However, technical issues involved with data collection changes limit useful comparisons of the data during the pandemic with the prior data series. We have especially noted the homeownership rate data for the last three quarters of 2020 with separate dots below to denote these technical issues. We encourage readers to consider these data points separately from the remaining data series. Nonetheless, the first three quarters of 2021 likely return the series to a more applesto-apples comparison with the prior history of the series.

While the total housing inventory estimates were unaffected by the data collection changes during the COVID-19 pandemic, the estimates of homeownership rates, vacancy rates, and the components of housing inventory were affected severely until the second quarter of 2021 when in-person interviews were allowed in 99% of the country. The housing stock based HVS revealed that the count of total households increased to 128.3 million in the third quarter of 2022 from 127.1 million a year ago. The gains are largely due to strong owner household formation (1.7 million increase), while renter households decreased by 454,000.

LARGEST GATHERING OF HOUSING INDUSTRY

Professionals to Convene in Las Vegas in January

Attendees from across the globe are expected to flock to Las Vegas for the 2023 National Association of Home Builders (NAHB) International Builders’ Show® (IBS), the largest annual light construction trade show in the world, held Jan. 31-Feb. 2 at the Las Vegas Convention Center.

IBS will again co-locate with the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Industry Show® (KBIS) for the 10th Annual Design & Construction Week® (DCW). Registrants will also be able to attend the National Hardware Show (NHS) which will also be at the Las Vegas Convention Center at that time. Registration for IBS will also allow attendees access to the show floors of KBIS and NHS. “We are seeing huge interest and registration numbers for the 2023 IBS and expect this to be a banner year,” said NAHB Chairman Jerry Konter, a home builder and developer from Savannah, Ga. “Attendees will get the full experience of networking, education, new products and much more. Being able to visit all three industry shows at one time, with one registration, is an incredible value and an experience not to be missed.” Registration for the three shows is currently underway in what is expected to be the largest annual gathering of the residential design and construction industry in the world. Projections for the shows are pacing ahead of previous years and are looking very strong for 2023.

• IBS is projecting to host more than 1,000 exhibitors spanning over 575,000 net square feet of exhibit floor space. NAHB expects more than 57,000 to attend the 2023 show.

• NKBA|KBIS is projecting to host over 450 exhibitors across 420,000 net square feet of exhibits space and expects over 30,000 attendees.

• NHS has more than 6,000 attendees registered to date, 31% of whom are new registrants and 17% with over $5 million in purchasing power. The show also has 600+ exhibitors, more than half of whom are new to the show.

The NAHB International Builders’ Show is not open to the general public. Building industry professionals and their affiliates are invited to register by visiting the show’s website at BuildersShow.com. [Editor’s Note: Complimentary registration is available to credentialed members of the working press. Visit Designandconstructionweek.com/ press for more information or to register.]

CONTACTS:

Elizabeth Thompson ethompson@nahb.org (202)266-8495

Stephanie Pagan spagan@nahb.org (202)266-8254

INFLATION SHIFTS TO Slowest Pace Since January

BY: FAN-YU KUO

Consumer prices in October saw the smallest year-over-year gain since January 2022, and while still elevated, inflation experienced the first month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and the energy index increased after declining for three straight months. As inflation appears to have peaked and has started to slow, this may ease some of pressure on the Fed to maintain its aggressive monetary policy. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.4% in October on a seasonally adjusted basis, following the same increase in September. The price index for a broad set of energy sources rose by 1.8% in October as a decline in natural gas (-4.6%) partly offset an increase in electricity (+0.1%) and gasoline index (+4.0%). Excluding the volatile food and energy components, the “core” CPI increased by 0.3% in October, following an increase of 0.6% in September. Meanwhile, the food index increased by 0.6% in October with the food at home index rising 0.4%.

The index for shelter, which makes up more than 40% of the “core” CPI, rose by 0.8% in October, following an increase of 0.7% in September. This is the largest monthly increase since August 1990. The indexes for owners’ equivalent rent (OER) increased by 0.6% and rent of primary residence (RPR) increased by 0.7% over the month. Monthly increases in OER have averaged 0.7% over the last three months. More cost increases are coming from this category, which will maintain pressure on inflationary forces in the months ahead. These higher costs are driven by lack of supply and higher development costs. Higher interest rates will not slow these costs, which means the Fed’s tools are limited in addressing shelter inflation.

During the past twelve months, on a not seasonally adjusted basis, the CPI rose by 7.7% in October, following an 8.2% increase in September. The “core” CPI increased by 6.3% over the past twelve months, following a 6.6% increase in September. The food index rose by 10.9% and the

Most component indexes continued to increase in October. The indexes for shelter (+0.8%), motor vehicle insurance (+1.7%), recreation (+0.7%), new vehicles (+0.4%) as well as personal care (+0.5%) showed sizeable monthly increases in October. Meanwhile, the indexes for used cars and trucks (-2.4%), apparel (-0.7%), medical care (-0.5%) and airline fares (-1.1%) declined in October.

energy index climbed by 17.6% over the past twelve months. NAHB constructs a “real” rent index to indicate whether inflation in rents is faster or slower than overall inflation. It provides insight into the supply and demand conditions for rental housing. When inflation in rents is rising faster (slower) than overall inflation, the real rent index rises (declines). The real rent index is calculated by dividing the price index for rent by the core CPI (to exclude the volatile food and energy components).

The Real Rent Index rose by 0.4% in October. Over the first ten months of 2022, the monthly change of the Real Rent Index increased by 0.1%, on average.

BUYERS' EXPECTATIONS OF HOUSING AVAILABILITY Continue to Improve

BY: ROSE QUINT

For the second straight quarter, more prospective buyers expect housing availability to improve. In the third quarter of 2022, 37% of buyers expect the home search to get easier in the months ahead, up from 17% and 22% in the first and second quarters of the year, respectively. More for-sale inventory and less competition from buyers priced-out by higher mortgage rates are likely driving the improvement. In contrast, 59% expect the search to get harder/stay the same, down from 74% and 67% in the first two quarters of 2022.

Housing availability expectations improved in all regions of the country in the third quarter of 2022. In the Northeast, 44% of buyers expect easier conditions, up from 28% in the second quarter. In the Midwest, the share rose from 14% to 33%; in the South, from 18% to 23%; and in the West, from 31% to 52%.

Another way to measure buyers’ perceptions of housing inventory is to ask them if they are seeing more/fewer/the same number of homes forsale* in their markets. In the third quarter of 2022, 36% reported seeing more homes, up from 23% and 28% in the first two quarters of the year. Inventory perceptions have improved across all regions. From the second to the third quarters of 2022, the share of buyers seeing more homes on the market rose in the Northeast (27% to 43%), Midwest (23% to 30%), the South (24% to 33%), and West (36% to 42%).

** Results come from the Housing Trends Report – a research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. The HTR is produced quarterly to track changes in buyers’ perceptions over time. All data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult. Results are seasonally adjusted. A description of the poll’s methodology and sample characteristics can be found here. This is the third in a series of six posts highlighting results for the third quarter of 2022. See previous posts on plans to buy and new vs. existing preference

JAN

2023

Wednesday

New Years Observed NewYears Observed || Office Closed OfficeClosed 2nd

11th Executive Committee- Executive Committee - 3:00 3:00 || Board Meeting Board Meeting 5:00 5:00 Clubhouse at Preserves at French Creek (5800 Preserve Drive, Sheffield Village)

"Celebrate" 2023 Installation of Officers, Circle of Excellence & Hall of Fame "Celebrate"2023Installation of Officers, Circleof Excellence & Hall of Fame || 5:30-11 5:30-11 Tom's Country Place, 3442 Stoney Ridge Road, Avon 21st Saturday

Thursday-Tuesday

Monday Tuesday

IBS 2023 Leadership Meetings IBS 2023Leadership Meetings Las Vegas, Nevada 26-31st

2023 International Builders Show 2023International Builders Show Las Vegas, Nevada 31st

Career & Technical Education Month Career & Technical Education Month

Wednesday-Thursday

FEB 2023 NCBIA Home & Remodeling Show 2023NCBIA Home & RemodelingShow 25-26 th

Saturday-Sunday

Monday-Tuesday

IBS 2023 Leadership Meetings & International Builders Show IBS 2023Leadership Meetings& International Builders Show 1-2nd Las Vegas, Nevada

OHBA Spring Board Meeting OHBA Spring Board Meeting 27-28 th Hilton Easton, Columbus

National Designation Month NationalDesignation Month

APR

Location to be Determined MAR

8th Executive Committee - Executive Committee- 3:00 3:00 || Board Meeting Board Meeting 5:00 5:00 Clubhouse at Preserves at French Creek (5800 Preserve Drive, Sheffield Village) 15th General Membership Meeting GeneralMembership Meeting || 5-7 PM 5-7 PM Wednesday

Wednesday

New Homes Month New Homes Month 7th Easter Observed EasterObserved || Office Closed OfficeClosed Friday

MAY National

JUN

Home Remodeling Month NationalHome Remodeling Month 10th

CommitteeMonday

Wednesday

National Homeownership Month NationalHomeownership Month

Tuesday-Saturday

Tuesday-Thursday

NAHB Leadership Meetings NAHB Leadership Meetings//Legislative Conference Legislative Conference 6-10th Washington D.C. 20-22 OHBA Summer Board Meeting OHBA SummerBoard Meeting nd Kent State University Hotel & Conference Center Friday

23rd General Membership Meeting GeneralMembership || 11:30 11:30AM-1AM-1PM PM Pogie's Clubhouse (150 Jefferson St. Amherst)

JUL

Tuesday

Wednesday

Thursday

SEP

Thursday

4th Independence Day Independence Day || Office Closed Office Closed

Monday

Wednesday

OCT

12th

Executive Committee - Executive Committee - 3:00 3:00 || Board Meeting Board Meeting 5:00 5:00 Clubhouse at Preserves at French Creek (5800 Preserve Drive, Sheffield Village) 27 th

Night at the Crushers Night at the Crushers || 6:30 6:30

Mercy Health Stadium (2009 Baseball Boulevard, Avon)

3rd Golf Classic Golf Classic || 8 AM 8 AM

Sweetbriar Golf Course ( 750 Jaycox Rd., Avon Lake)

Associate Member Appreciation Month Associate Member Appreciation Month 4 th 13 th

Labor Labor Day Day || Office Closed Office Closed

Executive Committee - Executive Committee - 3:00 3:00 || Board Meeting Board Meeting 5:00 5:00 Clubhouse at Preserves at French Creek (5800 Preserve Drive, Sheffield Village)

Careers in Construction Month Careers in Construction Month

Saturday

Wednesday

NCBIA Annual Clambake NCBIA Annual Clambake || TBA TBA Amherst Eagles ( 1161 Milan Ave., Amherst) 14 th 18 th General Membership Meeting & Election Night General Membership Meeting & Election Night || 5-7 PM 5-7 PM Location- TBD

Wednesday

8 th

Executive Committee - Executive Committee - 3:00 3:00 || Board Meeting Board Meeting 5:00 5:00 Clubhouse at Preserves at French Creek (5800 Preserve Drive, Sheffield Village)

Hilton Easton, Columbus 14th Thursday-Friday

Tuesday

OHBA Fall Board Meeting OHBA Fall Board Meeting

Thanksgiving Thanksgiving || Office Closed Office Closed 23-24 th

Merry Christmas Merry Christmas || Office Closed Office Closed 25-26 th Monday-Tuesday

AN END TO LARGE Hikes from the Fed?

BY: ROBERT DIETZ

Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by seventy-five basis points, increasing that target to an upper bound of 4%. This marks the fourth consecutive meeting with an increase of seventy-five basis points and pushes the fed funds rate to a 15-year high. These supersized hikes were intended to move monetary policy more rapidly to restrictive policy rates. The Fed’s leadership has previously signaled they intend to hold these restrictive rates for a substantial period time, perhaps into 2024. Importantly, the November policy statement also contained hints of a pivot to a slower rate of hikes in the future. While noting that additional rate increases are required to bring inflation down to the Fed’s 2% target (with a higher than previously expected top rate), new messaging in the statement suggests a slowing of the size of the rate hikes. The Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”

This verbiage indicates the Fed will adjust its future actions based on expected lags with respect to already implemented tightening and will respond to additional signs of a slowing economy. This is a more data dependent and less forecast dependent policy outlook. In general, this policy adjustment is a positive development for housing because the current risk for Fed policy is of tightening too much and bringing on a more severe recession or a financial crisis. The Fed noted that economic activity is experiencing “modest growth.” Adding detail to this, in his press conference Chair Powell appropriately indicated the economy has “slowed significantly from last year’s rapid pace” and the housing market has “weakened significantly largely reflecting higher mortgage rates.” Powell also noted that tightening financial conditions are having negative impacts on the most interest rate sensitive sectors, specifically citing housing. Powell noted that the “housing market needs to get back into a balance of supply and demand.”

Of course, the best way to do this is for policymakers to reduce the cost of constructing new single-family and multifamily housing. The Fed also sees labor market softening, with their projections from last month forecasting that the unemployment rate will increase to 4.4% in 2023. This is an optimistic forecast; NAHB projects a rate near 5% at the start of 2024.

In September, the Fed’s “dot plot” indicated that the central bank expects the target for the federal funds rate would increase by seventyfive more basis points in November, and then 50 in December and concluding with twenty-five points at the start of 2023. This would take the federal funds top rate to near 4.8%.

Today’s messaging from the Fed suggests that they are considering a higher terminal rate, perhaps above 5%. Powell also noted that the Fed needs to see a decisive set of data of slowing inflation to judge the appropriate level for the top fed funds rate. However, Powell refused to commit that the Fed is now biased against another 75-basis point increase.

Combined with quantitative tightening from balance sheet reduction (in particular $35 billion of mortgage-backed securities (MBS) per month), the combination of past moves and expected, additional rate hikes represents a significant amount of monetary policy tightening over a short period of time. Given this intended policy stance, a hard landing with a mild economic recession is, in our view, highly likely. However, by 2025, the Fed is forecasting a return to a normalized rate of 2.5% for the federal funds rate.

Among the clear signs of economic slowing are just about every housing indicator, including ten straight months of declines for home builder sentiment. Indeed, an open macro question is whether the economy experienced a recession during the first half of 2022, during which the economy posted two quarters of GDP declines. The missing element from the recession call: a rising unemployment rate, which is coming. Regardless, given declines for single-family permits, singlefamily starts, pending home sales, and rising sales cancellations rates, it is clear a housing industry recession is ongoing, with eventual large spillover impacts for the overall economy.

In the meantime, housing’s shelter inflation readings have remained hot. Within the September CPI data, owners’ equivalent rent was up 6.7% compared to a year ago. In fact, over the last three months, this measure was increasing at an annualized rate of 8.9%. Rent was up 7.2% compared to a year ago.

Housing is also central to the risk of the Fed raising rates too high for too long. Regardless of Fed actions, elevated CPI readings of shelter inflation will continue going forward because paid rents will take time to catch-up with prevailing market rents as renters renew existing leases. This lag means that CPI will show inflationary gains months after prevailing market rent growth has in fact cooled. The core PCE measure, the growth rate of which peaked in early 2022, is a better indicator of inflation and suggests the current Fed outlook may now be entering too hawkish territory.

It is important to note that there is not a direct connection between federal fund rate hikes and changes in long-term interest rates. During the last tightening cycle, the federal funds target rate increased from November 2015 (with a top rate of just 0.25%) to November 2018 (2.5%), a 225-basis point expansion. However, during this time mortgage interest rates increased by a proportionately smaller amount, rising from approximately 3.9% to just under 4.9%. The 30-year fixed mortgage rate, per Freddie Mac, is near 7% today but will move higher in the months ahead.

Moreover, the spread between the 30-year fixed rate mortgage and the 10-year Treasury rate has expanded to approximately three hundred basis points as of last week. Before 2020, this spread averaged a little more than 170 basis points. This elevated spread is a function of MBS bond sales as well as uncertainty related to housing market risks. Finally, the Fed has previously noted that inflation is elevated due to “supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.” While this verbiage may incorporate policy failures that have affected aggregate supply and demand, the Fed should explicitly acknowledge the role fiscal, trade and regulatory policy is having on the economy and inflation as well.

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AFFORDABILITY EXPECTATIONS IMPROVE As The Typical Buyer Changes

BY: ROSE QUINT

Prospective buyers in the third quarter of 2022 are more likely to have higher levels of income and education than earlier in the year. This helps explain why affordability expectations have improved. In the third quarter of 2022, 69% of buyers could only afford a minority of homes for sale in their markets, a much lower share than in the first (81%) or second (77%) quarters of the year. Conversely, the share able to afford at least half the homes available rose to 31%, up from 19% and 23% in the first two quarters of the year.

Affordability expectations between the second and third quarters of 2022 improved in all regions. In the Northeast, the share of buyers only able to afford a minority of homes dropped from 73% to 66%; in the Midwest, from 84% to 83%; in the South, from 82% to 77%, and in the West, from 70% to 58%.

** Results come from the Housing Trends Report – a research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. The HTR is produced quarterly to track changes in buyers’ perceptions over time. All data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult. Results are seasonally adjusted. A description of the poll’s methodology and sample characteristics can be found here. This is the third in a series of six posts highlighting results for the third quarter of 2022. See previous posts on plans to buy and new vs. existing preference

EXECUTIVE VP COLUMN

Ijust returned from the NAHB Fall Meeting where members from across Ohio and the country met to discuss business of the current day. After hearing of the topics of concern, it was appropriate to draw a resemblance to Halloween and its connection to scary stories. It appears vigilance is in order.

First, interest rates and impact on the economy. NAHB has an excellent economics staff. Chief Economist Robert Dietz (an Ohio guy) reported economic conditions are so aligned that 2023 could produce a continued slowdown nationwide. While 2024 may be an improvement, 2023 may see current trends to continue. His information is available on NAHB’s website.

On the Regulatory front, a national shortage of transformers will continue as production is limited to one company in the nation who produces a key element in its production. The Treasury Department is developing new rules defining subcontractor versus employee. The thought is the rule will tighten favoring a definition of most as an employee under most circumstances. These are high priority issues for NAHB staff. As the employee issue is a rule rather than law, the administration is in charge of its fate.

Naturally, code threats are always on the horizon as are court actions which will impact environmental regulation regarding water of the US.

by Vincent J. Squillace, CAE, OHBA Exec. VP

RULES AND REGULATIONS GOVERNING EXHIBITS

MANAGEMENT: The North Coast Building Industry Association (NCBIA) shall be deemed Event Management and shall have all rights thereto assigned. (From here on the North Coast Building Industry Association will be referred to as NCBIA).

CHARACTER OF EXHIBITS: NCBIA reserves the right to approve all exhibits. The exhibits and the distribution of promotional material shall be limited to the confines of the Exhibitor’s space. Under no circumstances shall any Exhibitor be permitted to attract attention to his/her exhibit in such a way as to distract or interfere with the other exhibitors.

REGISTRATION: Exhibitors and their employees at the Event should wear a registra tion badge and/or tag for proper identification.

SET UP/REMOVAL OF EXHIBITS: All exhibits must be placed and ready at the opening of the show and no movement of exhibits will be permitted until after the close of the show. Exhibits must remain intact until after closing of the show and be removed within such time as may be specified by the NCBIA. Strict compliance with move in and move out times is mandatory. A fine for late move in and/or early move out will be assessed at the discretion of the NCBIA.

RAFFLES: Exhibitors are encouraged to conduct games, lotteries and/or similar activities to increase patron participation, so long as it does not interfere with the other exhibitors.

CARE OF EXHIBITS/AISLES: Aisles must be kept clear at all times. Seating for buyers must be confined within the exhibitor’s space. Exhibitors are requested at all times to cooperate with the NCBIA in maintaining all exhibits in appropriate condition.

*In the event that the Exhibitor does not exhibit as provided herein or fails to comply in any respect with the terms of this agreement, the NCBIA management shall have the right without notice to the Exhibitor, to license the use of said space to any other company, enterprise, person or persons and the Exhibitor agrees to pay any deficien cy, loss and/or damage sustained by the NCBIA as a consequence of such failure to occupy space as provided in this agreement. In addition, it is agreed that should the NCBIA be unable to license the use of said space as herein provided, it shall have the right to occupy said space for its own purposes without prejudice to its rights against Exhibitor pursuant to this agreement, including but not limited to the payment of a license fee.

*Exhibitor will not sub license any part of the space herein provided for without the express written consent of the NCBIA. In the event the exhibit premises are destroyed or rendered unavailable for any reason whatsoever (whether before or during the scheduled exhibition), the rights of the Exhibitor under this agreement shall be limited to a pro-rated refund of the amount paid for the space licensed.

DIRECT SALES: All direct sales vendors must make the payment for their space in full at the time of registration.

REFRESHMENTS: No sample food and/or beverage products may be distributed by exhibitors except upon written authorization of the NCBIA.

COMPLIANCE WITH LAWS: Exhibitors must comply with all federal, state and local laws, regulations and rules that may be in force during the exhibit.

INSURANCE: Exhibitors who desire insurance on their exhibits must procure same at their own expense. The NCBIA will not be responsible for any losses incurred by the Exhibitor or its employees because of theft, damage or for any cause whatsoev er nor to any property of employee(s) or Exhibitor(s) while en route to or from exhibit. The Exhibitor agrees to make no claim for any reason whatsoever, including negligence, against the NCBIA or NCBIA management, its agents or employees while in the show quarters. Exhibitor agrees to indemnify and hold harmless the NCBIA against any loss, damage or expense (including reasonable attorney’s fees) act or omission of Exhibitor or its agents connected in any way with its exhibits.

DECORATIONS, SIGNS, ETC: All equipment in conjunction with the exhibit must be provided by the Exhibitor. However, only the sign of the firm covered by the Exhibitor’s agreement may be placed in the booth or upon printed list of exhibitors or program. All decorations must conform to fire regulations. No exhibit is permitted that is more than eight feet high, or that obstructs other exhibits due to its design or size or that presents a safety hazard to other exhibitors and/or attendees.

PAYMENT DEFAULT: A service charge of 15% per month is applicable on all balances after 30 days. In the event any unpaid amount is placed for collection, client and/or agent agree to pay all collection costs, including reasonable attorney’s fees.

REFUND POLICY: A partial refund will only be given with a minimum of 45 days notice prior to the event. The NCBIA retains the right to use their own discretion when deeming the reason for refund as a viable one to determine whether refund shall be granted.

*The NCBIA shall have the right to make such rules and regulations in connection with the Exhibition as it may deem proper and may amend them at any time, and the NCBIA shall have the full power in the matter of interpretation and enforcement thereof. The rules and regulations heretofore referred to are printed on this agreement and are incorporated herein by reference. Exhibitor agrees to abide by said rules and regulations.

*It is agreed that this instrument is a license, and not a lease, and that no leasehold or tenancy is intended to be or shall be created hereby.

*This agreement cannot be varied, modified or canceled by the Exhibitor without the express written consent of the NCBIA.

*IN WITNESS THEREOF, the Exhibitor has caused this application and agreement to be executed by authorized representative.

NAHB Member

The North Coast Building Industry Association provides members an abundance of ways to achieve professional development and generate recognition. The 2023 Marketing Guide was developed to help you plan your involvement and budget for 2023. Lock in pricing now as it is subject to change. All opportunities featured are accompanied by descriptions to give you a better understanding of the events. Each marketing opportunity not only includes an investment amount, but also the recognition you can expect in return. Getting the most of your membership also means getting involved. We invite you to consider joining a committee or volunteering during events. This will lead you to that pivotal next step of building relationships and subsequently gaining more business. Please look over the choices in this packet. For sponsorship and participation opportunities, mark your choices in this guide and return a copy, along with the completed selection sheet to the NCBIA. We are here to help you determine what works best for you and your organization. Call us any time at (440) 934-1090

Use these color-coded stars to quickly find the best marketing options for your business!

If your business focuses on serving other members, look for the GREEN stars on the following pages.

Or if your business is geared more towards selling to consumers, look for the best marketing opportunities to reach consumers, marked with a RED star!

If you’d like help putting together a marketing plan for your business, please contact Judie Docs at judie@ncbia.com or (440) 934-1090 and I’d be happy to help!

Monthly BUILDER Newsletter

A NEW ISSUE EVERY MONTH ONLINE AT www.ncbia.com AND EMAILED TO EVERY INBOX

BACK COVER

o 4 issues per year$625 per issue

o 8 issues per year$495 per issue

o 12 issues per year$365 per issue

INSIDE FRONT COVER

o 4 issues per year$575 per issue

o 8 issues per year$470 per issue

o 12 issues per year$340 per issue

INSIDE BACK COVER

o 4 issues per year$545 per issue

o 8 issues per year$430 per issue

o 12 issues per year$315 per issue

FULL PAGE

o 4 issues per year$490 per issue

o 8 issues per year$385 per issue

o 12 issues per year$285 per issue

1/2 PAGE

o 4 issues per year$325 per issue o 8 issues per year$275 per issue o 12 issues per year$200 per issue

1/4 PAGE

o 4 issues per year$185 per issue o 8 issues per year$165 per issue o 12 issues per year$135 per issue

BUSINESS CARD (1/8 PAGE)

o 4 issues per year$135 per issue o 8 issues per year$125 per issue o 12 issues per year$110 per issue

www.ncbia.com

email the NCBIA at judie@ncbia.com.

Includes company logo featured prominently on the landing page of the Parade of Homes site; a rotating slide on the home page at www.ncbia.com with a link to your company website; your company logo/name featured in all marketing efforts; an ad placement each week in the NCBIA e-News Update; recognition in the NCBIA BUILDER Newsletter Magazine and more.

Includes company logo/name featured on the landing page of the Parade of Homes site; your company logo/name featured in all marketing efforts; recognition in the NCBIA BUILDER Newsletter Magazine and more.

Includes company name featured on the landing page of the Parade of Homes site; your company name featured in selected marketing efforts; recognition in the NCBIA BUILDER Newsletter Magazine and more. o Patron

Includes company name featured on the landing page of the Parade of Homes site; recognition in NCBIA BUILDER newsletter Magazine and more.

Keeping up on the times, today’s consumers know what they want and use the internet to find what they are looking for.

Leverage your visibility with the NCBIA Virtual Parade of Homes. Your homes and/or remodeling projects will be open 24/7 on a mobile device or computer. You will have a qualified prospect when they come to visit or call you for an appointment.

This marketing opportunity is widely publicized digital, print and at events.

Business card

H: 2.0 in W: 3.195 in

*Refer to page 3 for Builder Newsletter pricing and page 4 for Membership Directory & Consumer Guide pricing

Quarter page

H: 5.25 in W: 3.195 in

Half page H: 5.25 in W: 8.0 in

Two-page spread (no bleed) H: 10.5 in W: 16.0 in

2023 MARKETING Advertising Spec Sheet

Full page (no bleed) H: 10.5 in W: 8.0 in

GUIDE

Full page (with bleed) H: 11.0 in W: 8.5 in

Two-page spread (with bleed) H: 11.0 in W: 17.0 in

North Coast Building Industry Association, 5077 Waterford Dr., Suite #302 Sheffield Village, OH 44035 (440) 934-1090

Monthly BUILDER Newsletter

BACK COVER

o 4 issues per year.........$625 per issue o 8 issues per year.........$495 per issue o 12 issues per year.......$365 per issue

INSIDE FRONT COVER

o 4 issues per year ........$575 per issue o 8 issues per year........ $470 per issue o 12 issues per year.......$340 per issue

INSIDE BACK COVER o 4 issues per year.........$545 per issue o 8 issues per year.........$430 per issue o 12 issues per year.......$315 per issue

FULL PAGE

o 4 issues per year.........$490 per issue o 8 issues per year.........$385 per issue o 12 issues per year.......$285 per issue

1/2 PAGE o 4 issues per year.........$325 per issue o 8 issues per year.........$275 per issue o 12 issues per year.......$200 per issue

1/4 PAGE o 4 issues per year.........$185 per issue o 8 issues per year.........$165 per issue o 12 issues per year.......$135 per issue

BUSINESS CARD (1/8 PAGE)

o 4 issues per year.........$135 per issue o 8 issues per year.........$125 per issue o 12 issues per year.......$110 per issue

CHOOSE MONTH(S) FOR YOUR AD(S)

o JAN-FEN o FEB-MAR o MAR-APR o APR-MAY o MAY-JUN o JUN-JUL o JULY-AUG o AUG-SEP o SEP-OCT o OCT-NOV o NOV-DEC o DEC-JAN HOME SHOW 2023

Welcome New Members!

David Abraham, AMC Contracting Group, LLC (Primary Builder) 528 Township Road 150 Sullivan, OH 44880 (440) 647-8788 info@amccontractinggroup.com www.amccontractinggroup.com

Sponsored by: Tom Lahetta, Tom Lahetta Builders Design/Build-General Contractors (New Construction, Custom Remodeling, Additions, Excavating, Concrete Flatwork, Quality Custom Work

Mike Bodnar, Floor Coverings International (Affiliate Associate)

681 Moore Road Avon Lake OH 44012 (440) 522-8311 mike.bodnar@fcifloors.com https://clevelandwest.floorcoveringsinternational.com/ Sponsored by: John Toth, Floor Coverings International Floor Coverings International® carries a full assortment of flooring. No matter what you are looking for, we have options that will fit the purpose of the room, your lifestyle and price-point. Contact us today to learn more.

John Eavenson, Perpetual Development, LLC (Primary Builder) 6150 Park Square Drive Suite C Lorain OH 44053 (440) 396-0836 jeavenson@perpetualdevllc.com Sponsored by: Tim King, K. Hovnanian Homes Land Development

Bill Damm, WesBanco Bank (Primary Associate)

6055 Rockside Woods Blvd., Independence OH 44131 (216) 704-3994 bill.damm@wesbanco.com www.wesbanco.com

Sponsored by: Terry Hawke, Network Land Title

Founded in 1870, WesBanco, Inc. is a multi-state, bank holding company headquartered in Wheeling, West Virginia. We are a diversified and well-balanced financial services company, with a community bank at its core, built upon a strong legacy of credit and risk management. Over the past decade, we've built a national reputation as a safe, sound, and profitable bank holding company while we have maintained our community bank orientation. We merge technology with people to support our commitment to personal customer service. WesBanco's banking subsidiary WesBanco Bank, Inc., operates branches and offices in eight states. In addition, WesBanco operates a century old trust business, an insurance agency, WesBanco Insurance Services, Inc., and a full-service broker/dealer, WesBanco Securities, Inc. At WesBanco what matters most to you, matters most to us.

Lisa Houck, WesBanco (Affiliate Associate)

1559 Corporate Woods Parkway, Suite 350, Uniontown OH 44685 (330)437-5541

lisa.houck@wesbanco.com www.wesbanco.com Sponsored by: Terry Hawke, Network Land Title

Founded in 1870, WesBanco, Inc. is a multi-state, bank holding company headquartered in Wheeling, West Virginia. We are a diversified and wellbalanced financial services company, with a community bank at its core, built upon a strong legacy of credit and risk management. Over the past decade, we've built a national reputation as a safe, sound, and profitable bank holding company while we have maintained our community bank orientation. We merge technology with people to support our commitment to personal customer service. WesBanco's banking subsidiary WesBanco Bank, Inc., operates branches and offices in eight states. In addition, WesBanco operates a century old trust business, an insurance agency, WesBanco Insurance Services, Inc., and a full-service broker/dealer, WesBanco Securities, Inc. At WesBanco what matters most to you, matters most to us..

Anne Schorr, WesBanco Bank (Affiliate Associate)

1559 Corporate Woods Parkway, Suite 350, Uniontown OH 44685 (330) 592-3869 anne.schorr@wesbanco.com www.wesbanco.com Sponsored by: Terry Hawke, Network Land Title

Founded in 1870, WesBanco, Inc. is a multi-state, bank holding company headquartered in Wheeling, West Virginia. We are a diversified and well-balanced financial services company, with a community bank at its core, built upon a strong legacy of credit and risk management. Over the past decade, we've built a national reputation as a safe, sound, and profitable bank holding company while we have maintained our community bank orientation. We merge technology with people to support our commitment to personal customer service. WesBanco's banking subsidiary WesBanco Bank, Inc., operates branches and offices in eight states. In addition, WesBanco operates a century old trust business, an insurance agency, WesBanco Insurance Services, Inc., and a full-service broker/dealer, WesBanco Securities, Inc. At WesBanco what matters most to you, matters most to us.

Susan Grachanin, Buckeye Community Bank

Mike Meszes, DRC Construction

Dave Meadows, First Federal

Ross Boesch, Gundlach Sheet

Lakewood

Metal

Joe Laumer, Northstar – A Division of Stewart Title

Pat Shenigo – Shencon

Dennis Willis, Action Coach (Primary Associate)

THANK YOU SPIKES!

STATESMAN SPIKE (500-999 SPIKE CREDITS)

Bob Yost ........................ Dale Yost Construction .............................. 680.75

Mary H. Felton Guardian Title 518.00

SUPER SPIKE (250-499 SPIKE CREDITS)

Terry Bennett Bennett Builders & Remodelers 302.25

Jack Kousma ................ Kousma Insulation ..................................... 287.50

Chris Majzun Jr. .......... Majzun Construction Co............................ 267.00

ROYAL SPIKE (150-249 SPIKE CREDITS)

Bill Perritt Perritt Building Co 225.50

Sara Majzun Majzun Construction Co. 218.50

Bucky Kopf Kopf Construction Corp. 203.50

Jeff Hensley .................. Lake Star Building & Remodeling............ 182.25

Randy K. Strauss ......... Strauss Construction .................................. 179.50

Tom Lahetta Tom Lahetta Builders 166.50

RED SPIKE (100-149 SPIKE CREDITS)

Dave Linna Sr. Linna Homes & Remodeling 137.50

Jason Scott North Star Builders 125.00

Thomas Caruso ............ Caruso Cabinets .......................................... 113.75

Patrick Shenigo ............ ShenCon Construction, LLC ..................... 107.50

Chris Majzun Sr. Majzun Construction Co 106.50

Tom Sear Ryan Homes 102.25

GREEN SPIKE (50-99 SPIKE CREDITS)

Jim Sprague .................. Maloney & Novotny, LLC ......................... 99.00

Chris Mead ................... Maloney & Novotny, LLC ......................... 77.50

Aaron Kalizewski Grande Maison Construction 69.50

Tim Conrad Graves Lumber 67.00

Ray Allen Thom Thom Concrete 59.50

Jeremy Vorndran 84 Lumber 55.50

LIFE SPIKE (25-49 SPIKE CREDITS)

Liz Schneider ............... Dollar Bank .................................................. 47.50

Steve Schafer Schafer Development 30.50

John Daly Network Land Title 26.50

BLUE SPIKE (6-24 SPIKE CREDITS)

Chris Collins ................ Carter Lumber ............................................. 16.00

Ken Cassell ................... Cassell Construction................................... 13.50

John Toth ...................... Floor Coverings International ................... 13.00

Dave LeHotan All Construction Services 10.00

John Blakeslee Blakeslee Excavating, Inc 10.00

Mike Warden Huntington 10.00

Ashley Oates Cambria 9.50

Mark McClaine ............ 84 Lumber .................................................... 9.00

Steve Fleming .............. Shamrock Development ............................ 9.00

Mike Chambers Charles, Morgan & Company 8.50

Scott Kosman Lakeland Glass 7.50

Tim Hinkle Green Quest Homes 6.50

Lindsay Yost Bott Dale Yost Construction 6.00

Jim Tipple Maranatha Homes 6.00

Call for Entries

Why Enter?

◊

Circle of Excellence celebrates the top projects completed by the builders, remodelers, and associates of the North Coast Building Industry Association (NCBIA). ◊ Winning a Circle of Excellence award allows your company to advertise to consumers as an “awardwinning” company.

Eligibility

◊ The candidate must be a NCBIA member in good standing. ◊ Entry must have been created, produced, or marketed between November 1, 2021and October 31, 2022.

Entry Preparation

◊ Complete entry must be received by the NCBIA no later than December 15, 2022. There will be no exceptions to entry deadline. ◊ Entry may be submitted via email with one attachment of required items, or in a binder delivered to the NCBIA ◊ Payment of the entry fee must accompany entry. ◊ Each entry must be sent separately, clearly marked with what category it is for and who is submitting it.

AWARD CATEGORIES

BUILDER OF THE YEAR

Entry Fee: $75 Entry Requirements: ◊ Candidate must be a full-time builder. ◊ Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.

Community Involvement: ◊ Provide a list of community events that your company was involved in. Customer Service: ◊ Provide two testimonials from homeowners whose homes you have completed within the contest time frame.

Marketing: ◊ Provide a set of plans (front elevation & plans) without identifying your company name or location of home. ◊ Submit photos of front elevation, kitchen, master suite and one room of choice. ◊ Include an explanation of why this is your most impressive project during this time frame.

REMODELER OF THE YEAR

Entry Fee: $75

Entry Requirements:

◊ Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.

Community Involvement:

◊ Provide a list of community events that your company was involved in.

Customer Service:

◊ Provide two testimonials from homeowners or business owners whose projects you have completed within the contest time frame.

Marketing: ◊ Submit four photos (before and after) of your most impressive project.

◊ Include an explanation of why this is your most impressive project during this time frame.

ASSOCIATE OF THE YEAR

Entry Fee: $75

Entry Requirements:

◊ Candidate must be a member in good standing of the NCBIA.

◊ Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.

NCBIA Involvement:

◊ List committee(s) on which you have served. ◊ List special events with which you were involved.

Community Involvement:

◊ Provide a list of community events that your company was involved in.

Marketing: ◊ Provide 2 testimonials from customers. BEST

Under 2,000 square feet

Under 2,000 square feet 2,001-3,000 square feet 2,001-3,000 square feet 3,001-4,000 square feet 3,001-4,000 square feet

Over 4,000 square feet Over 4,000 square feet

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit one copy of the plan. ◊ Submit color photo of each: exterior, main living area, master suite, kitchen, and rooms/area of your

choice. ◊ Brief description of the project.

Entry Fee: $75 per entry

BEST CUSTOM HOME

Entry Requirements: ◊ Submit one copy of the plan. ◊ Submit color photo of each: exterior, main living area, master suite, kitchen, and rooms/area of your choice. ◊ Brief description of the project.

Best Single-Family Custom Home

Under 2,000 square feet 2,001-3,000 square feet 3,001-4,000 square feet Over 4,000 square feet

BEST LANDSCAPE DESIGN

Categories: ◊ Best Residential Landscape ◊ Best Commercial Landscape

Entry Fee: $75 per entry

Entry Requirements: ◊ Submit before and after photo(s). ◊ Brief description of the project.

BEST COMMUNITY

Categories: ◊ Best Single-Family Community ◊ Best Cluster/Condo Community

Entry Fee: $75 per entry

Entry Requirements: ◊ Submit description of community. ◊ Submit plat.

BEST SUPERINTENDENT/PRODUCTION MANAGER

Entry Fee $75

◊ Describe the primary responsibilities of the nominated person. ◊ Explain why this person should be recognized.

BEST ACHIEVEMENT IN NEW HOME SALES

Categories:

Bronze Award $1,000,000-$2,000,000

Silver Award $2,000,001-$5,000,000

Gold Award $5,000,001-$10,000,000

Platinum Award $10,000,001 and over

Entry Fee: $75 per entry

Entry Requirements:

◊ Must be a salesperson representing a builder. ◊ Must be new home construction sales. ◊ Total volume closed transactions between November 1, 2021 and October 31, 2022. ◊ All entry forms must be validated by the builder with list of transaction, total volume of transaction and date transaction closed.

BEST MARKETING

Builder Categories

Associate Categories

Best Marketing Piece (online or print - Best Marketing Piece (online or printAd, Brochure, Flyer, Newsletter) Ad, Brochure, Flyer, Newsletter)

Best Website Best Website

Entry Fee: $75 per entry

Entry Requirements: ◊ Submit copy of marketing piece

BEST KITCHEN REMODEL

Entry Fee: $75 per entry

Entry Requirements: ◊ Submit before and after photo(s). ◊ Brief description of the project.

Under $50,000 $50,001 - $100,000 Over $100,000

BEST BATHROOM REMODEL

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit before and after photo(s).

◊ Brief description of the project.

Under $25,000 $25,001 $50,000 Over $50,000

BEST BASEMENT REMODEL

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit before and after photo(s).

◊ Brief description of the project.

Under $50,000 $50,001 $100,000 Over $100,000

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit before and after photo(s).

◊ Brief description of the project.

Under $50,000 $50,001 - $100,000 Over $100,000

BEST ADDITION

BEST COMMERCIAL BUILD

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit one copy of the plan.

◊ Submit color photo of each: exterior & up to 4 interior photos.

◊ Brief description of the project.

Under 3,000 square feet Over 3,000 square feet

BEST COMMERCIAL REMODEL

Entry Fee: $75 per entry

Entry Requirements:

◊ Submit before and after photos.

◊ Brief description of the project.

Under $150,000

Over $150,000

Under 2,000 square

2,001-3,000 square feet

3,001-4,000 square feet

Over 4,000 square feet

Under 2,000 square feet

2,001-3,000 square feet

3,001-4,000 square feet

Over 4,000 square feet

2,001-3,000 square feet

3,001-4,000 square feet

Over 4,000 square feet

BEST ACHIEVEMENT IN NEW HOME SALES

□

Bronze Award $1,000,000-$2,000,000 □ Silver Award $2,000,001-$5,000,000 □ Gold Award $5,000,001-$10,000,000 □ Platinum Award $10,000,001 and over

BEST ADVERTISEMENT

-

BUILDER CATEGORIES □ Best Marketing Piece (Ad, Brochure, Flyer, Newsletter) □ Best Website

BEST ADVERTISEMENT

-

ASSOCIATE CATEGORIES □ Best Marketing Piece (Ad, Brochure, Flyer, Newsletter) □ Best Website

BEST KITCHEN REMODEL □

Under $50,000 □ $50,001 - $100,000 □ Over $100,000

BEST BATHROOM REMODEL □

Under $25,000 □ $25,001 - $50,000 □ Over $50,000

BEST BASEMENT REMODEL □

Under $50,000 □ $50,001 - $100,000 □ Over $100,000

BEST ADDITION □

Under $50,000 □ $50,001 - $100,000 □ Over $100,000

BEST COMMERCIAL BUILD □

Under 3,000 square feet □ Over 3,000 square feet

BEST COMMERCIAL REMODEL □

Under $150,000 □ Over $150,000 Company Name: Contact Person:

U.S. Bank Voyager Mastercard

The U.S. Bank Voyager® Mastercard® is the fleet card of choice of the NAHB. This exclusive fleet solution requires no account setup or card fees, can generate savings opportunities for NAHB members and will keep your fleet moving forward.

LEARN MORE

Goodyear

NAHB members save 15% on Goodyear tires and service when you buy Online. We'll help you find the right tires and install them in store. Create an account or log into nahb.org to see your exclusive member savings.

LEARN MORE

Lowe's Pro

NAHB members build more savings as you build your business through Lowe's Business Credit savings. As a Lowe's Credit cardholder you receive 5% off everyday purchases. Make sure you're receiving the exclusive NAHB member 2% statement credit to save a total of 7% monthly. Don't miss out on your exclusive ways to save!

LEARN MORE

AVIS / Budget

Enjoy the change in seasons and plan your fall getaway with savings from your NAHB Avis and Budget Car Rental Savings Program. With the Pay Now feature, members can save up to 35% off base rates on every rental, plus receive additional offers like dollars off, a complimentary upgrade or a free weekend day.

LEARN MORE WITH AVIS LEARN MORE WITH BUDGET

Houzz Pro

Now your members can schedule a free consultation with the experts at Houzz Pro and see how you can improve your process to more quickly convert leads to jobs. These best practices will save you time and money. Plus, NAHB members exclusively save 25% on any package. Schedule your free consultation

LEARN MORE

Nissan

Take advantage of Nissan's exclusive member offer for model year 2022 select vehicles. All members are required to show proof of membership form to take advantage of this offer

LEARN MORE

General Motors

General Motors is proud to offer NAHB Members a Private Offer of $500 towards your next purchase or lease of select Chevrolet, Buick and GMC vehicles.

LEARN MORE

Dell

At Dell Technologies, our purpose is to drive human progress, through greater access to better technology, for people with big ideas around the world. Let us help your business achieve more!

LEARN MORE

UPS

The holiday season is officially here! Members can use the NAHB UPS Saving Program to help prepare and manage shipments so all of your packages arrive as expected. Download or bookmark the 2022 Year-End Schedule from ups.com/holidays

LEARN MORE

Cold weather safety

Reportable payroll & true-up

It has been a great fall so far!!! Temperature is cooling off, kids are back in school, leaves are changing!!! Of course, this means that winter is right around the corner. With that in mind, we need to prepare ourselves for the hazards that cold and winter weather brings. In this month’s newsletter we are going to discuss two cold weather hazards: Cold Stress and Slips, Trips and Falls. First, let’s discuss cold stress. Cold stress typically comes in three different categories: immersion/trench foot, frostbite, and hypothermia. Let’s look at each one and their respective first aid actions.

1.Immersion/Trench foot

Reportablepayroll

In defining payroll, the Ohio Bureau of Workers’ Compensation (BWC) generally follows the guidelines of the Ohio Department of Job and Family Services, as well as the Federal Unemployment Tax Authority (FUTA) in the businesses section.

B. Symptoms include reddening skin, tingling, pain, leg cramps, numbness, and blisters.

A. This results in prolonged exposure to temperatures, potentially, as high as 60 degrees in cold and wet conditions. According to NIOSH, wet feet lose heat twenty-five times faster than dry feet!

Examplesofreportablepayroll

2. Frostbite

C.First Aid – If an emergency, get medical assistance as soon as possible. Remove wet shoes/boots and wet socks. Dry the feet, do not rub them, and avoid walking. Be sure to keep the feet elevated.

How to report payroll and complete the true-up Although employers may contact BWC at (800) OHIO-BWC (800.644.6292) and complete their true-up report over the phone, BWC anticipates high call volumes and long wait times. They strongly encourage employers to complete their true-up report online through their BWC e-account at www.bwc.ohio.gov. If you do not have an e-account, simply select the Create E-Account Link to begin. You will need your BWC policy number and/or Federal Tax IdentificationNumber.

A. This results in freezing of the skin and tissues and can cause permanent damage or potential amputation.

The more common types of reportable payroll include gross hourly wages and gross salaries less qualifying deductions for section 125 cafeteria plan benefits, sick pay and vacation pay, bonus payments, including stock given as a bonus, sales commission and tips. Contact BWC or go to www.bwc.ohio.gov, select For Employers/Compliance/ Reporting Payroll for a complete list of reportable payroll. You may also contact Sedgwick’s Rate Department at (800) 825-6755 with anyquestions.

Additional rebates

Additional rebates are available should an employer utilize their e-accountthroughtheBWC’swebsite.Eligibleemployerswillqualify for a 1 percent Go Green premium rebate (up to $2,000 maximum) by filing electronically. To be eligible for the Go-Green Rebate, you must complete the true-up online and pay any balance at that time as well as opt in to invoice email notifications.

B.Symptoms include reddened skin that begins to develop gray/white patches in the affected areas. There may be symptoms of tingling, aching or loss of feeling. The affected area may feel hard/firm with blisters.

True-up process

C. First Aid – Get medical assistance immediately. Protect the area by wrapping loosely in dry cloth. DO NOT rub the area and DO NOT use water to warm (if the area is rewarmed and freezes again, more damage may occur – leave it up to the medical professionals). DO NOT break the blisters and give the individual warm sweetened drinks. FOLLOW THE RECOMMENDATIONS BELOW FOR HYPOTHERMIA.

3.Hypothermia

BWC provides workers’ compensation coverage based on estimated payroll. Therefore at the end of the policy year, BWC asks employers to report their actual payroll for the prior policy year and pay any shortage (or receive a refund for any overage) in premium. This process is called a true-up. If the true-up is not completed timely, the following may occur:

Deadlines

PRIVATE EMPLOYERS

• Employer will not be eligible for prior year rebates and incentives

• Employer will be removed from current year programs

• True-up report must be completed and payment received no later than August 13, 2021.

A. Hypothermia is a result of the body unable to regulate body heat. The human body has a normal temperature around 98.5 degrees, however if the body reaches a temperature of 95 degrees, hypothermia begins to set in.

B. Symptoms include uncontrollable shivering, loss of coordination, confusion, slurred speech, low heart rate or breathing and unconsciousness. A person with hypothermia may not know what is happening so getting medical help as soon as possible is crucial.

• Employer will become ineligible for programs the following year and will continue to remain ineligible for all future years until all past true-ups are completed.

PUBLIC EMPLOYERS

• True-up report must be completed and payment received no later than February 15, 2022.

C.Call 911 immediately. Move to a warm dry area and remove any wet clothing and replace with dry clothing. If medical help is 30 or more minutes away, give warm sweetened drinks, if alert (no alcohol). Place warm bottles or hot packs in armpits, sides of chest and groin.

Call 911 if additional rewarming instructions are needed.

The other hazard associated with the cold weather is slips, trips and falls. Here are some tips you can incorporate this coming winter.

1. Come up with a plan at your facility to remove snow and ice.

Reportable payroll & true-up

2. Be sure to have a good shovel and supply of salt pellets (or preferred material) to remove ice.

3. Create a reporting procedure in the event employees find icy conditions that need attention.

4. Wear appropriate shoes that have good traction and insulation for icy and cold conditions.

5. Provide cold weather gear for employees working outside.

Reportablepayroll

How to report payroll and complete the true-up

6. When walking, take short steps, walk at a slower pace, and be prepared to react to changes intraction.

In defining payroll, the Ohio Bureau of Workers’ Compensation (BWC) generally follows the guidelines of the Ohio Department of Job and Family Services, as well as the Federal Unemployment Tax Authority (FUTA) in the businesses section.

7. Plan! Monitor the weather conditions to determine safe work times. You can use the linkhttps://www. weather.gov/wrn/winter_safety, for tips on winter weather.

8. When using ladders, be sure to inspect them for damage and remove any ice or snow that may have accumulated on them.

Examplesofreportablepayroll

The more common types of reportable payroll include gross hourly wages and gross salaries less qualifying deductions for section 125 cafeteria plan benefits, sick pay and vacation pay, bonus payments, including stock given as a bonus, sales commission and tips. Contact BWC or go to www.bwc.ohio.gov, select For Employers/Compliance/ Reporting Payroll for a complete list of reportable payroll. You may also contact Sedgwick’s Rate Department at (800) 825-6755 with anyquestions.

Although employers may contact BWC at (800) OHIO-BWC (800.644.6292) and complete their true-up report over the phone, BWC anticipates high call volumes and long wait times. They strongly encourage employers to complete their true-up report online through their BWC e-account at www.bwc.ohio.gov. If you do not have an e-account, simply select the Create E-Account Link to begin. You will need your BWC policy number and/or Federal Tax IdentificationNumber.

9. Report any icy or dangerous situations when working. Living in Ohio, cold weather stress and icy conditions may be common and can be dangerous but are preventable.

Additional rebates

Before preparing for your workday, check the weather and wear the appropriate clothing. When evaluating the workplace, look for icy and dangerous conditions and report them as needed. When working outside be sure to take breaks to keep warm and drink fluids to stay hydrated. Finally, be able to identify signs of cold stress symptoms for you and your employees and their first aid remedies.

True-up process

Additional rebates are available should an employer utilize their e-accountthroughtheBWC’swebsite.Eligibleemployerswillqualify for a 1 percent Go Green premium rebate (up to $2,000 maximum) by filing electronically. To be eligible for the Go-Green Rebate, you must complete the true-up online and pay any balance at that time as well as opt in to invoice email notifications.

For more information, please contact Sedgwick’s Andy Sawan at 330.819.4728 or andrew.sawan@sedgwick.com

BWC provides workers’ compensation coverage based on estimated payroll. Therefore at the end of the policy year, BWC asks employers to report their actual payroll for the prior policy year and pay any shortage (or receive a refund for any overage) in premium. This process is called a true-up. If the true-up is not completed timely, the following may occur:

• Employer will not be eligible for prior year rebates and incentives

• Employer will be removed from current year programs

• Employer will become ineligible for programs the following year and will continue to remain ineligible for all future years until all past true-ups are completed.

Deadlines

PRIVATE EMPLOYERS

• True-up report must be completed and payment received no later than August 13, 2021.

PUBLIC EMPLOYERS

• True-up report must be completed and payment received no later than February 15, 2022

sedgwick.com/ohiotpa | 800.825.6755

© 2021 Sedgwick | 3-21

Cost containment matters

Reportable payroll & true-up

– Here's Why

As most employers know, the financial and emotional impact of a work-related employee injury can be significant. While the primary goal is to ensure the injured worker receives appropriate care, minimizing the costs associated with the accident should also be a focus for employers.

In Ohio, there are three primary cost containment options for employers – Settlement, Handicap Reimbursement and Subrogation/No Fault Motor Vehicle Accident (MVA). Sedgwick is the industry leader in successfully employing these options. We utilize leading measures and predictive cost containment to help Ohio employers contain costs and reduce premiums. When a claim occurs, Sedgwick is ready to apply cost containment strategies to quickly resolve the claim, resulting in cost savings for the employer

Reportablepayroll

In defining payroll, the Ohio Bureau of Workers’ Compensation (BWC) generally follows the guidelines of the Ohio Department of Job and Family Services, as well as the Federal Unemployment Tax Authority (FUTA) in the businesses section.

Examplesofreportablepayroll

The more common types of reportable payroll include gross hourly wages and gross salaries less qualifying deductions for section 125 cafeteria plan benefits, sick pay and vacation pay, bonus payments, including stock given as a bonus, sales commission and tips. Contact BWC or go to www.bwc.ohio.gov, select For Employers/Compliance/ Reporting Payroll for a complete list of reportable payroll. You may also contact Sedgwick’s Rate Department at (800) 825-6755 with anyquestions.

How to report payroll and complete the true-up Although employers may contact BWC at (800) OHIO-BWC (800.644.6292) and complete their true-up report over the phone, BWC anticipates high call volumes and long wait times. They strongly encourage employers to complete their true-up report online through their BWC e-account at www.bwc.ohio.gov. If you do not have an e-account, simply select the Create E-Account Link to begin. You will need your BWC policy number and/or Federal Tax IdentificationNumber.

Sedgwick has a dedicated cost containment team that solely focuses on achieving significant cost savings for our clients through Settlements, Handicap Reimbursements and Subrogation. Our efforts have resulted in substantial cost reductions for not only the individual employer, but for all employers participating in group retrospective rating. Two recent success stories by the Sedgwick cost containment team resulted in savings of close to $1 million. In one case, Sedgwick was able to secure a 100% write off through subrogation on a maximum value MVA claim, impacting a group retro program, with reserves set at over $1 million. Not only does this victory result in premium savings for our client but it also means the refund potential for that group retro program increased by at least $500,000.

Additional rebates

Additional rebates are available should an employer utilize their e-accountthroughtheBWC’swebsite.Eligibleemployerswillqualify for a 1 percent Go Green premium rebate (up to $2,000 maximum) by filing electronically. To be eligible for the Go-Green Rebate, you must complete the true-up online and pay any balance at that time as well as opt in to invoice email notifications.

The second case involved a death claim with close to $300,000 in costs. Our cost containment team was able to secure a 100% handicap reimbursement, once again resulting in savings for our client and an increase in refund potential for the group retro program of close to $300,000.

True-up process

BWC provides workers’ compensation coverage based on estimated payroll. Therefore at the end of the policy year, BWC asks employers to report their actual payroll for the prior policy year and pay any shortage (or receive a refund for any overage) in premium. This process is called a true-up. If the true-up is not completed timely, the following may occur:

Deadlines

Sedgwick is honored to partner with all clients on successfully managing their workers’ compensation programs. Our early, proactive cost containment approach will continue to be an ongoing priority toward achieving the best outcomes for our clients and their injured workers.

If you have any questions, contact our Sedgwick program manager, Bob Nicoll at 330-418-1824 or robert.nicoll@sedgwick.com.

• Employer will not be eligible for prior year rebates and incentives

• Employer will be removed from current year programs

• Employer will become ineligible for programs the following year and will continue to remain ineligible for all future years until all past true-ups are completed.

PRIVATE EMPLOYERS

• True-up report must be completed and payment received no later than August 13, 2021.

PUBLIC EMPLOYERS

• True-up report must be completed and payment received no later than February 15, 2022.

MORE PROSPECTIVE BUYERS Are Actively Searching for a Home

BY: ROSE QUINT

Higher interest rates are pricing out some (not all) buyers, but also transforming remaining prospects into active buyers. In the third quarter of 2022, 59% of prospective buyers had moved beyond the planning phase and become fully engaged in the buying process, up from 46% in the first quarter and 49% in the second quarter of the year.

The share of prospective buyers actively searching for a home rose in every region between the second and third quarters of 2022: Northeast (54% to 62%), Midwest (51% to 53%), South (39% to 51%), and West (57% to 68%).

Buyers actively looking for a home are having a harder time finding what they want: in the third quarter of 2022, a record 70% have spent 3+ months searching, up from 63% a quarter earlier.

** Results come from the Housing Trends Report – a research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. The HTR is produced quarterly to track changes in buyers’ perceptions over time. All data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult. Results are seasonally adjusted. A description of the poll’s methodology and sample characteristics can be found here. This is the third in a series of six posts highlighting results for the third quarter of 2022. See previous posts on plans to buy and new vs. existing preference

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