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).
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.
5321 Meadow Lane Court - B, Suite #23 Sheffield Village, OH
Thursday, January 16, 2025
January Member Mixer5 - 7 PM
Rusty Barrel
27026 Center Ridge Road, Westlake
Saturday, February 22, 2025
2025 Installation Night
5:30-8:00 PM
American Legion Post 211 31972 Walker Road, Avon Lake
Tuesday-Thursday February 25-27, 2025
NAHB International Builders Show Las Vegas Convention Center Las Vegas, Nevada
Check the website at www.ncbia.com for up-to-date changes, additions, and corrections to these events!
Business anniversaries, accomplishments, awards, publications, etc.? Send to judie@ncbia.com. We want to hear from you!
URGENT REQUEST
Needed: 2 Trustees for OHBA & 2 Alternates
Article VI – Board of Trustees Section 3 (A)
Such representation shall include a Trustee for every twenty-five (25) Builder Members, or fraction thereof, which the Affiliated Local Association has on the date described within the immediately preceding sentence. An Associate member may be selected to fill one of your Trustee slots. You should also include an Alternate for each Trustee.
OHBA Board Dates are:
Spring Organizational Meeting – March 11, 2025 –Athletic Club of Columbus Summer Board of Trustees Meeting – June 24-25, 2025 – Wooster, OH
Fall Board of Trustees Meeting – November 11, 2025 – Hilton Easton, Columbus
Needed: 1 Delegate for NAHB & 1 Alternate
Please contact Judie Docs if you are interested by January 15, 2025 (judie@ncbia.com – 440-9341090/2).
THE END of 2024
As we approach the end of 2024, it’s hard to believe that my two-year term as President is also coming to a close. This has been a remarkable year for the NCBIA, and the end of the year is the perfect time to reflect on all we’ve accomplished together.
2024 was truly special. We celebrated our association's 80th anniversary, secured a new home for the NCBIA, and hosted several successful events. These milestones are a testament to the strength and dedication of our members and leadership.
I am deeply grateful for the collective effort of everyone involved in the association. Thanks to the tireless work of our leadership, staff, and committees, our industry continues to grow stronger, and our membership has remained steady. These teams dedicate countless hours to organizing events, promotions, and meetings to meet your needs. Without their dedication, our organization simply couldn’t thrive. My heartfelt thanks go out to everyone who has volunteered their time and talents to make this a great association.
As we look toward the future, I encourage every member to get involved. Whether it’s serving as a committee chair or participating in a committee, your passion for the industry will only deepen through active involvement. These opportunities not only allow you to build meaningful relationships but also contribute to something bigger: improving the building industry and providing better shelter and opportunities for families to create cherished memories.
The NCBIA is committed to supporting every member. You should be proud of your contributions to the positive outcomes we’re seeing at national, state, and local levels. Our association is great because of our members.
I want to take a moment to thank our board of directors, volunteers, Executive Director, Judie Docs, and her dedicated staff for their unwavering support, hard work, and guidance. I couldn’t have served as your President without you. It’s been a privilege to work alongside such talented individuals, and I look forward to continuing to support the NCBIA as Immediate Past President in 2025.
To our members, serving as your President from 2023 to 2024 has been an honor and a privilege. I remain committed to supporting you and the association in the years to come.
Lastly, I wish you and your families the happiest of holidays and every blessing for the new year. Here’s to a successful and prosperous 2025 for us all!
Tim King, K. Hovnanian Homes
by Judie Docs, CSP, MCSP, MIRM, CMP, CGP
As we approach the close of another remarkable year, I am filled with gratitude for your unwavering support, dedication, and commitment to our association's mission. Throughout 2024, your active participation, innovative ideas, and collaborative spirit have been the cornerstone of our success. From our intimate gatherings to larger events, we’ve made meaningful strides in building and strengthening the NCBIA community.
I want to extend my appreciation to each of you for your invaluable contributions. Your enthusiasm and involvement have enriched our association and inspired positive change and progress.
Looking ahead to 2025, we stand on the threshold of even greater accomplishments. Our shared vision and collective passion will continue to propel us to new heights. I am excited about the initiatives, events, and opportunities that await us in the coming year
I encourage you to stay engaged and actively participate in the journey ahead. Your voice, ideas, and involvement are essential to shaping the future of our association.
EVENT SPONSOR
Member: $2000
Non-Member: $2500
Event Sponsors:
Everything on Supporting Sponsor list, PLUS radio interview, booth space, logo on staff t-shirts and all printed advertising, mention in radio advertisements and option to have your company’s banner hung at show entrance!
Saturday, March 15th 9-5 Sunday, March 16th 10-3
Spitzer Conference CenterLorain County Community College 1005 North Abbe Road, Elyria
My company would like to sponsor the 2025 NCBIA Home Show. (Please select below)
Event Sponsor($2000) Member Supporting Sponsor ($300)
SPONSOR INFORMATION
SPONSOR
Member: $300
Non-Member: $500
Includes: mention in radio ads, your logo in event program, Facebook event page, slideshow during event, option to put promotional items in swag bag, and recognition in BUILDER newsletter.
PAYMENT METHOD:
Please Indicate how you would like to pay for your sponsorship.
QUESTIONS? CONTACT THE NCBIA www.ncbia.com (440) 934-1090 judie@ncbia.com
Supporting Sponsors:
Bag Sponsor: ___Invoice ___Check Enclosed ___VISA/MC/AMEX/DISC* *If you select credit card, our office will call for your card information.
EYE ON HOUSING
HOUSE PRICE APPRECIATION BY STATE and Metro Area: Third Quarter 2024
Housing prices posted modest annual growth for the third quarter of 2024, as elevated mortgage rates kept many potential home buyers away from the housing market. Nonetheless, housing inventory has improved in recent months.
Nationally, house price appreciation has decelerated for two straight quarters. According to the quarterly all-transactions House Price Index (HPI) released by the Federal Housing Finance Agency ( FHFA ), U.S. house prices rose 5.1% in the third quarter of 2024, compared to the third quarter of 2023.
The quarterly FHFA HPI not only reports house prices at the national level, but also provides insights about house price fluctuations at the state and metro area levels. The FHFA HPI used in this article is the all-transactions index, measuring average price changes in repeat sales or refinancings on the same single-family properties.
Between the third quarter of 2023 and the third quarter of 2024, all 50 states and the District of Columbia had positive house price appreciation, ranging from 1.2% to 8.8%. New Jersey and Connecticut topped the house price appreciation list with an 8.8% gain. They were followed by Rhode Island with an 8.4% gain. Meanwhile, the District of Columbia had the lowest price growth (+1.2%). Among all 50 states and the District of Columbia, 29 states exceeded the national growth rate of 5.1%. Compared to the second quarter of 2024, 40 out of the 50 states had a deceleration in house price appreciation in the third quarter.
House prices have changed unevenly across U.S. metro areas, from the third quarter of 2023 to the third quarter of 2024. House price appreciation ranged from -9.0% to +19.1%. In the third quarter of 2024, 21 metro areas, in reddish color on the map above, had negative house price appreciation, while the remaining 363 metro areas experienced positive price appreciation.
BY: JING FU
The table below shows the top and bottom ten markets for house price appreciation between the first quarter of 2020 and the third quarter of 2024. Among all the metro areas, house price appreciation ranged from 13.1% to 81.4%. Knoxville, TN has experienced the highest house price appreciation. Lake Charles, LA had the lowest appreciation.
Additionally, house prices have increased dramatically since the COVID-19 pandemic. Nationally, house prices rose 50.4% between the first quarter of 2020 and the third quarter of 2024. More than half of the metro areas saw house prices rise by more than the national price growth rate of 50.4%.
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CONSTRUCTION LABOR MARKET Continues to Ease
After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs trended lower in the October data, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The data indicates the demand for construction labor market remains weaker than a year ago.
In contrast, after revisions, the number of open jobs for the overall economy increased from 7.37 million to 7.74 million in October. Nonetheless, this is notably smaller than the 8.69 million estimate reported a year ago and is a sign of a softening aggregate labor market. Previous NAHB analysis indicated that this number had to fall below 8 million on a sustained basis for the Federal Reserve to feel more comfortable about labor market conditions and their potential impacts on inflation. With estimates remaining below 8 million for national job openings, the Fed is underway easing credit conditions.
The number of open construction sector jobs fell from a revised 258,000 in September to a softer 249,000 in October. Elements of the construction sector slowed in prior months as tight Fed policy persisted. The October reading of opening, unfilled construction jobs is lower than that registered a year ago: 413,000.
BY: ROBERT DIETZ
The construction job openings rate fell back to 2.9% in October and continues to trend lower, albeit with a fair amount of statistical month-to-month noise in the recent data.
The layoff rate in construction moved lower to 1.2% in October after a 2% rate in September. This was the lowest layoff rate for construction in the data series (going back to late 2000). The quits rate in construction increased to 1.9% in October.
THANK YOU SPIKES!
SUPER SPIKE (250-499 SPIKE CREDITS)
Terry
Jason
Chris Majzun Sr.
GREEN SPIKE (50-99 SPIKE CREDITS)
Jim Sprague Maloney & Novotny, LLC
Chris Mead ................... Maloney & Novotny, LLC .........................
Aaron Kalizewski ........ Grande Maison Construction....................
Jeremy Vorndran 84 Lumber
Jason Scott Greyhawk Development
Liz Schneider Dollar Bank
Tim King K. Hovnanian Homes
LIFE SPIKE (25-49 SPIKE CREDITS)
Steve Schafer ................ Schafer Development .................................
John Daly Network Land Title
BLUE SPIKE (6-24 SPIKE CREDITS)
Mark McClaine 84 Lumber
John Toth ...................... Floor Coverings International ...................
Dave LeHotan .............. All Construction Services ..........................
Chris Collins Carter Lumber
Ken Cassell Cassell Construction
Ashley Oates 84 Lumber
John Blakeslee Blakeslee Excavating, Inc 12.00
Scott Kosman Lakeland Glass 9.50
Mike Meszes ................ DRC Construction ...................................... 8.00
Tim Hinkle ................. Green Quest Homes ............................... 6.50
Jim Tipple Maranatha Homes 6.50
Lindsay Yost Bott Dale Yost Construction 6.00
Lou LaGuardia Repros Engineering 6.00
Welcome New Members!
Dennis Reber, Primary Associate
Apollo Supply
1090 West Wilbeth
Akron, OH 44314
dennis@apollosupply.com
http://www.ApolloSupply.com
Sponsored by: Jen Gonzales, National Design Mart
Keys to my success in the building materials industry stems from being a hands-on leader who knows how to get the job done and drive sales while overseeing daily operations, managing staff, building customer relationships, and ensuring branch profitability. Working my way up through the trenches, my background and experience have awarded me in-depth knowledge of what it takes to run an organization that is successful and profitable. As Branch Manager, responsibilities include sales tracking, inventory management, P&L, budgeting, training, operations, forecasting, and achieving branch targets. Focused on market penetration, I have developed strong customer relationships with strategic key accounts while directing and mentoring the sales team in maintaining and delivering a high level of customer satisfaction. I utilize the latest technologies to enhance productivity, accurate reporting and efficiencies.
The building industry is dynamic, to say the least. Today’s growth in multi-family housing, nonresidential buildings, and supporting infrastructure offers tremendous opportunities for your products. How can you capitalize on trends toward high-performance buildings, healthier living spaces, waste reduction, and elegant outdoor living spaces? What new technologies can help you take advantage of these market changes?
We have many of the answers, from flame retardant structural composite panels to reinforcements, custom colorants, and performance-enhancing polymer additives for decking, and much more. We excel at helping you bring new products to market with advanced composites and engineered polymers that provide the performance, durability and colors your customers want and the production efficiencies you need. Supporting your project with our global footprint, technical expertise, and design help is all part of our process.
Bob Kreimes, Primary Associate (No Photo Available)
The Kreimes Company is a full-service asphalt, concrete, and excavation firm based in Sandusky, Ohio. We serve commercial and residential clients throughout Ohio (including Catawba & Port Clinton surrounding areas). Our services include: asphalt paving, repair, and sealcoating; concrete; striping; and excavation. Our reputation for quality has been built upon nearly four decades of professionalism, attention to detail, and timeliness.
Amanda Yarham, Primary Associate (No Photo Available)
Eyring Movers 638 Moore Road Avon Lake, OH 44012 (440) 653-5990 mandi@eyringmovers.com http://www.eyringmovers.com
Sponsored by: Amanda Reaser, Reaser Construction
Every move is given meticulous attention to detail. Our movers are professionals, and each one of our team members is trained in proper lifting, carrying, and loading techniques. This allows us to maximize the safety of your goods and our people while completing your move in the least amount of time. Eyring Movers is accredited by the Better Business Bureau with an A+ Rating and we are active members of the Ohio Association of Movers and the American Moving and Storage Association.
Bob Kreimes, Primary Associate (No Photo Available)
L&R Kreimes Company 2535 West Monroe Street Sandusky, OH 44870 (419) 625-0295 BTN1011@aol.com
Sponsored by: Pat Shenigo, Shencon
L&R Kreimes Company is a full-service asphalt, concrete, and excavation firm based in Sandusky, Ohio. We serve commercial and residential clients throughout Ohio (including Catawba & Port Clinton surrounding areas). Our services include: asphalt paving, repair, and sealcoating; concrete; striping; and excavation. Our reputation for quality has been built upon nearly four decades of professionalism, attention to detail, and timeliness.
Welcome New Members!
Eric Filakosky, Affiliate Associate
Repros Engineering
1518 Copley Road
Akron, OH 44320
(440) 823-5424
eric.filakosky@reprosinc.com
http://www.reprosinc.com
Sponsored by: Lou LaGuardia, Repros Engineering
Repros, Inc., a reprographics company opened for business in 1973 with 2 offices to serve the blueprinting needs of customers in the Cleveland and Akron markets. Customers relied upon local blueprint companies to reproduce architectural, engineering, construction and manufacturing drawings quickly and efficiently with ammonia-based blueprint equipment. Xerox was the first company in the 1980’s to introduce “plain paper” tonerbased copying systems to the reprographics marketplace. Xerox Engineering Systems sold the smaller wide format plain paper copying systems through Xerox dealers like Repros, Inc. In 1999, after 23 years with Xerox Engineering Services, Lou LaGuardia, Sr. purchased Repros, Inc. Under Lou’s leadership and with his vision Repros doubled in size in sales and staffing, currently operating 3 offices in Northeast Ohio. The LaGuardia family continues to run, grow and manage Repros.
Cynthia Gore, Primary Associate Stewart Title 20445 Emerald Parkway Cleveland, OH 44135
(440) 665-6985
cynthia.gore@stewart.com
http://www.stewart.com
Sponsored by: Melanie Stock, First Federal Savings of Lorain Your deals are multifaceted, involve many people, and have varied processes and levels of client involvement, so it’s important that they start on solid ground. With Stewart’s homebuilder title and closing services, you get a partner who provides a strong foundation, responds quickly to your needs, and provides the expert guidance and information you need to move your transactions forward, so that you can get your project underway.
Applying for Membership
Thanks for Renewing!
Sam Hudspath, All Construction Services, Inc.
Fred Miller, Azek Company - Building Products Division
Trevor Miller, Brady 3 Custom Homes & Remodeling
Joey McCormick, Bumble Bee Blinds
Jenny Prelipp, E.H. Roberts Company
Dave Meadows, First Federal Lakewood
Jason Scott, Greyhawk Development, LLC
Chris Igielinski, Henkel Corporation
Bob Kriemes, L&R Kriemes
Bill Kuhn, Lorain County Joint Vocational School
David Morgan, Lorain County Joint Vocational School
Paul Papesh, Lorain County Joint Vocational School
David Rudisill, Lorain County Joint Vocational School
Bob Kreimes, The Kreimes Company
Theresa Riddell, The Nelson Agency
Kim Schurdell, Third Federal
David English, WCCV Flooring, LLC
Jake Berger, All Construction Services
Susan Grachanin, Buckeye Bank
Dave Fox, Fraley & Fox
Fred Morey, Repros Engineering
Dustin Gray, Gotcha Covered of Avon
2024-2025 Membership Blitz
Multiple Ways To Win! Cash Prizes!
How It Works:
The Blitz will run from the Ugly Sweater Party on December 12th through the final day of the Home & Remodeling Show on March 16th.
For each new member you bring in during that time period you will receive 1 ticket into the drawing for a $200 cash prize!
Your new member will also be entered into a separate drawing for a cash prize!
The NCBIA member that brings in the most members during the Blitz will win $800 Cash!
Attendance Incentive!! There are 5 upcoming events from the 12th of December to the final day of the home show.
Ugly Sweater Party – 12/12
January Mixer – 1/16
Installation Night – 2/22
February Mixer – Date TBD
Home & Remodeling Show 3/15 & 16
If a current NCBIA member attends 4 out of 5 of these above mentioned events they will receive:
One ¼ ad in a newsletter of the month of their choosing
Two Free tickets to our Night at the Races event in April
Entered into a drawing for a portion of the 50/50 money raised at each event!
A 50/50 raffle will be held at the 1st four events mentioned on this flyer.
Half of money will go to someone present at that event.
The other half will go into a pot that will grow with each event!
The total pot will be split into 2 at the Spring GM Meeting. One of the New Members will win half
The other half will go to one of our Members that hit the attendance goal
Help Us Build A Stronger NCBIA!
EYE ON HOUSING
SINGLE-FAMILY HOME SIZE Nearing Turning Point?
An expected impact of the virus crisis was a need for more residential space, as people used homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022 and 2023, and housing affordability worsened, the demand for home size has trended lower. With lower long-term interest rates coming in view, will new single-family home size reverse and move higher in 2025?
According to third quarter 2024 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was 2,158 square feet, just off the lowest reading since the second half of 2009. Average (mean) square footage for new single-family homes registered at 2,348 square feet.
The average size of a new single-family home, on a oneyear moving average basis, trended lower to 2,366 square feet, while the median size is at 2,150 square feet. Home size increased from 2009 to 2015 as entry-level new construction lost market share. Home size declined between 2016 and 2020 as more starter homes were developed. After a brief increase during the post-COVID building boom, home size has trended lower due to declining affordability conditions. As interest rates decline, new home size could level off and increase in the quarters ahead.
November Member Mixer - Hosted by Connie Linkous
2024 2024 2024
DECEMBER
PHOTO GALLERY
EXISTING HOME SALES Rebound in October
Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached a 2-year low in late September, according to the National Association of Realtors (NAR). While elevated home prices persist due to the lock-in effect, we expect sales activity to increase as mortgage rates moderate with additional Fed easing. Improving inventory should help slow home price growth and enhance affordability.
Homeowners with lower mortgage rates have opted to stay put, avoiding trading existing mortgages for new ones with higher rates. This trend is driving home prices higher and holding back inventory. With the Federal Reserve beginning its easing cycle at the September meeting, mortgage rates are expected to gradually decrease, leading to increased demand and unlocking lock-in inventory in the coming quarters. Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 3.4% to a seasonally adjusted annual rate of 3.96 million in October. On a year-over-year basis, sales were 2.9% higher than a year ago, ending a 38-month streak of yearover-year declines since July 2021.
The first-time buyer share rose to 27% in October, up from 26% in September but down from 28% in October 2023.
The existing home inventory level rose from 1.36
million in September to 1.37 million units in October and is up 19.1% from a year ago. At the current sales rate, October unsold inventory sits at a 4.2-months supply, down from 4.3-months last month but up 3.6-months a year ago. This inventory level remains low compared to balanced market conditions (4.5 to 6 months’ supply) and illustrates the long-run need for more home construction.
BY: FAN-YU KUO
Homes stayed on the market for an average of 29 days in October, up from 28 days in September and 23 days in October 2023.
The October all-cash sales share was 27% of transactions, down from 30% in September and 29% a year ago. All-cash buyers are less affected by changes in interest rates.
The October median sales price of all existing homes was $407,200, up 4.0% from last year. This marked the 16th consecutive month of year-over-year increases. The median condominium/co-op price in October was up 1.6% from a year ago at $360,300. This rate of price growth will slow as inventory increases.
Geographically, all four regions saw an increase in existing home sales in October, ranging from 1.3% in the West to 6.7% in the Midwest. On a year-overyear basis, sales rose 1.1%, 2.3%, and 8.5% in the Midwest, South and West. Sales in the Northeast stayed unchanged.
The Pending Home Sales Index (PHSI) is a forwardlooking indicator based on signed contracts. The PHSI rose from 70.6 to 75.8 in September due to improved inventory and lower mortgage rates in late summer. On a year-overyear basis, pending sales were 2.6% higher than a year ago per National Association of Realtors data.
TWO DAY SHOW!!!!!
EXHIBITOR CONTRACT
Company Name (as it will appear in show) __________________________________________
Contact Person (print) _________________________________________________________ Cell # _______________________________________________________________________
Booth spaces are LIMITED and available on a 1st Come, 1st Served Basis! 2024 SOLD OUT - Act now to secure your booth!
BOOTH INFORMATION
Electric is optional and available on a 1st Come, 1st Served Basis!
Will you need electricity? _______ YES _______ NO ______# of Booth Spaces ____________TOTAL AMOUNT DUE
I understand that I have contracted for exhibit space by signing this contract and I am liable for the full cost of the booth space. I also understand that the final location of space will be determined by show management when payment is made in full. The undersigned represents that he/she is fully authorized to execute and complete this agreement. The undersigned also understands and agrees to the rules and regulations on the reverse side of this contract.
Authorized Exhibitor Signature
PAYMENT METHOD:
Please Indicate how you would like to pay for your booth space.
Printed Name ___Invoice ___Check Enclosed ___VISA/MC/AMEX/DISC*
*If you select credit card, our office will call for your card information.
Please send completed form to Judie@ncbia.com or 5321 Meadow Lane Court - B, Suite 23 Sheffield Village, OH 44035
Event Sponsors: **A $5.00 Convenience Fee will be charged for all Credit Card Payments
PHOTO GALLERY
POST-ELECTION CONFIDENCE AND Inflation Risks Rise as 2024 Ends
With the election in the rearview mirror, and personnel and policy decisions coming into focus for the incoming Trump administration, markets absorbed inflation data and elevated future risks. Inflation, which was a critical issue during the election, ticked higher in October as the Consumer Price Index (CPI) posted a 2.6% year-over-year growth rate. Overall, prices since the start of 2020 are up 20.2% — the largest spate of inflation in almost five decades. Due to higher construction costs and other supply-side factors, housing sector inflation continues to be a driving factor for the CPI. Shelter inflation increased at a 4.9% year-over-year rate in October and was responsible for 65% of total inflation over the last 12 months.
Due to lingering inflation pressure and possible future policy risks for prices, long-term interest rates remain elevated even as the Fed reduces short-term rates. The 10-year Treasury is near 4.4% — the highest level since the start of July. Fiscal policymakers need to show they will exert discipline for the federal deficit if risk increases. The 30-year fixed-rate mortgage is above 6.8% — also the highest rate since July due to similar concerns. NAHB’s forecast is for future declines in these interest rates over the next two years.
Ongoing elevated mortgage rates, combined with higher home prices, leave housing affordability in crisis-level conditions. The NAHB/Wells Fargo Cost of Housing Index (CHI) indicates that for the typical family, 38% of their income is required to buy a median-priced new or existing home. Low-income families would require three-quarters of their income. These affordability conditions are holding back home sales volume, although existing home sales improved in October. For the month, resales increased 3.4% to a 3.96 million annual rate — up 2.9% from a year ago and the first year-over-year gain for transaction volume in three years. Total inventory remains lean at a 4.2-month supply.
BY: FAN-YU KUO
The November reading of builder sentiment, via the NAHB/Wells Fargo Housing Market Index (HMI), noted a post-election gain despite ongoing challenges for affordability and home construction costs. The HMI increased by three points to a still soft reading of 46. However, the measure of future sales expectations increased by seven points to a positive reading of 64, reflecting builders’ optimism for the economy and sales conditions, while mindful of current policy risks. For example, single-family construction starts were down 6.9% to a 970,000 seasonally adjusted annual rate in October, although on a year-to-date basis, singlefamily home building is up more than 9%. Multifamily construction is down 29% on a year-to-date basis, as that market continues to face localized oversupply and tight financing conditions. NAHB is forecasting a small gain for single-family construction in 2025, while apartment development will level off later in the year.
SEASONS Greetings
Alot going on here at OHBA. We just wrapped up our Fall Board Meeting and elected new officers. Merle Stutzman of Wayne County will lead OHBA in the coming year. He will be supported by Vice President Jason Scott of Cleveland and Brad Olinger from Cincinnati as fellow Senior Officers. Many thanks to Enzo Perfetto who guided us well this year.
We could not help but suffer through hundreds of million dollars in political ads as well as wonder just what the election may hold. We all now know the results of the key federal and state elections. Now we will see just how the new government leaders prioritize the rules and regs which govern us. Stateside, the next legislature will resemble the current one though with new leaders in the Ho use and Senate.
The current legislative session continues until December 31st. After a brief post-election session where leaders for the next General Assembly were chosen, we will experience the “lame duck” session. Most of what will be considered then is being conjured up and we do not know for sure just what will happen; that is what makes all this so challenging.
Also, the looming appointment to replace Vice President Elect JD Vance has many transfixed on being the chosen one. With this election settled, races for Ohio’s top offices will be in full swing as Governor down to Treasurer will find new electees as all the current officers are term limited.
Our course our activity continues finding ways to increase residential lot development and the construction of affordable housing. We are well beyond reports of our housing shortage which is well known. We must now address the issue of getting to “Yes” approving housing sites and building homes.
Ohio Home Builders Association
Phone- 614/228-6647
by Vincent J. Squillace, CAE, OHBA Exec. VP
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NOTE - At FLEETCOR’s discretion, we may require CPA Reviewed or Audited Financial Statements during the
AUTHORIZED REPRESENTATIVE – Required.
Application Terms: By signing this Application, the Authorized Representative represents, warrants, and agrees that: (a) he or she is authorized to apply to FLEETCOR TechnologiesOperating Company, LLC (“FLEETCOR”), a Louisiana limited liability company, for an unsecured, partially secured, or fully secured line of credit (“Account”) on behalf of the company identified above (“Client”); (b) FLEETCOR may obtain Client’s credit report and check Client’s credit standing when processing this Application or periodically evaluating any resulting Account’s creditworthiness; (c) this Application is subject to approval and acceptance by FLEETCOR; (d) if the Application is approved by FLEETCOR in Louisiana, the resulting Account: (i) will be governed by Louisiana law; (ii) will not be a revolving credit account and the Amount Due/Total Amount Due shown on each Account Statement will be due and payable on the Due Date shown on the Statement; (iii) will be used solely for commercial purposes and not for personal or household purposes; (iv) will be suspended, and the Client’s redit history may be reported to credit reporting agencies, if the Client’s unpaid balance ever meets the Account’s Credit/Spend Limit; and (e) acceptance, signing (in whatever form), or use of any of the Cards issued to Client will constitute Client’s acceptance of the Client Agreement available at www.fleetcor.com/terms/7-Eleven-mc or www.fleetcor.com/terms/7-Eleven-dn Equal Credit Opportunity Act Notice. The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Federal Trade Commission, Equal Credit Opportunity Act, Washington, D.C. 2 0580. FLEETCOR considers your privacy important. View our privacy policy available at www.fleetcor.com/privacy-policy to find out more.
I agree to the Application Terms and the Client Agreement (Please check box) ☐
BUSINESS OWNER(S) / PERSON WITH SIGNIFICANT MANAGEMENT RESPONSIBILITY – Required.
To help fight financial crimes, the U.S. Department of Treasury require financial institutions to obtain, verify, and record information about beneficial owners of entities opening accounts. Beneficial owners are persons who, directly or indirectly, own 25% or more of the entity. We may use third-party resources to verify your identity. For questions about this regulation and how FLEETCOR uses and protects this data, please speak with your sales representative. Patriot Act Notice. Section 326 of the USA PATRIOT Act mandates that FLEETCOR verify and record certain information about you (the Client, Authorized Representative, or anyco-maker or guarantor) while processing this Application.
Beneficial Owner (Individuals who own 25% or more of a Legal Entity)* ☐ Not Applicable, Sole Proprietor, Government Entity, Not-For
this person have significant responsibility for managing the legal entity listed above?
