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.
Melanie Stock, First Federal Savings of Lorain Treasurer
Sara Majzun, Majzun Construction Company
Secretary
Jon Sherer, Ascent Custom Homes and Remodeling
Immediate Past President
Tim King, K. Hovnanian Homes
2025 NCBIA Board of Directors
Sam Hudspath, All Construction Services
Joey McCormick, Bumble Bee Blinds
Shannon Niebes, Royalty Roofing
Jason Rodriguez, The S.J.R. Building Co.
Theresa Riddell, The Nelson Agency
Kevin Walker, Walker Wealth Managements
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
Dave Linna, Linna Homes & Remodeling
Chris Majzun Jr., Majzun Construction Co.
Chris Majzun Sr., Majzun Construction Co.
Jim Sprague, Maloney + Novotny, LLC
Randy Strauss, Strauss Construction
Tom Lahetta, Tom Lahetta Builders, Inc.
2025 NAHB Delegate
This member represents our local industry in Washington DC
Jason Scott, Greyhawk Development
John Toth, Floor Coverings International (Alternate)
NAHB Senior Life Delegate
Randy Strauss, Strauss Construction
Ohio’s State Rep. to NAHB
Randy Strauss, Strauss Construction
OHBA 2025 President
Merle Stuzman, Weaver Custom Homes
OHBA Past President
Randy Strauss, 1996
2025 OHBA Trustees
Jason Scott, Greyhawk Development
John Toth, Floor Coverings International
Mary H. Felton, Guardian Title (Alternate)
Jason Rodriguez, The S.J.R. Building Co. (Alternate)
OHBA Area 2 Vice-President
Ric Johnson, CAPS Builder & Right at Home Technologies
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 – 2/27
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
per hour
Copies Training Room
Blueprint/Drawing
Contact Ashlyn Bellan-Caskey at ashlynncbia@gmail.com $10 each (plus shipping, if applicable) Your New Home
Design Services Warranty Books
$35 per hour Contact Ashlyn Bellan-Caskey at ashlynncbia@gmail.com
Verizon Wireless
$10 each (plus shipping, if applicable) Your New Home
1. 22% off Verizon monthly access fees on Corporate liable lines. $34.99 or higher, 2 corporate lines required.*
2. For a limited time, save $5/month for a year on two UNLIMITED plans by Verizon Wireless: Business Unlimited Pro 5G and Business Unlimited Plus 5G.1
Verizon 5G Business Internet
1. 10-year price guarantee, one month free, and prices as low as $69/month.2 Restrictions apply.
Save the Date!
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, February 27, 2025
February Member Mixer5 - 7 PM Captain's Club 232 Park Avenue, Amherst
Friday, March 14, 2025
NCBIA Home & Remodeling Show Set-Up 4-6 PM
LCCC Spitzer Conference Center, 1005 N. Abbe Road, Elyria
Saturday & Sunday, March 15 & 16, 2025
NCBIA Home & Remodeling Show
9 AM - 5 PM, 10 AM - 3 PM
LCCC Spitzer Conference Center, 1005 N. Abbe Road, Elyria
Wednesday, March 19, 2025
Executive Committee Meeting 3:30 - 5 PM
Board of Directors Meeting 5 - 6:30 PM
NCBIA Office
5321 Meadow Lane Court - B, Suite #23 Sheffield Village, OH
Thursday, April 10, 2025
How To Work a Room Workshop - FREE Facilitated by:
Mary H. Felton, Guardian Title More Info To Come
11AM - 12:30 PM
NCBIA Office
5321 Meadow Lane Court - B, Suite #23 Sheffield Village, OH
Saturday, April 26, 2025
Night at the Races
American Legion Post 211 31972 Walker Road, Avon Lake
Monday, May 19, 2025
Learn Your WHY and Make More Impact Workshop - FREE Facilitated by:
Maria Leali of ActionCOACH
Certified WHY.os Coach
More Info To Come
11AM - 12:30 PM
NCBIA Office
5321 Meadow Lane Court - B, Suite #23
Sheffield Village, OH
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!
INCOMING 2025 PRESIDENT’S SPEECH
From Installation Night
First, I would like to again thank everyone for attending. I’d also like to again thank tonight’s sponsors, Judie & staff, The American Legion Post 211, Fligner’s for catering our dinner, Lola King of The Brownie Box, and the NCBIA board of directors. Also, a thanks to Jason Scott our 2025 OHBA Vice President for being here with us to swear in our 2025 officers and directors.
I’d also like to send a special thanks to Tim King for being a great leader for the past two years. His ability to stay objective through any situation or discussion has helped us take needed steps to move the association forward. Tim has helped us to achieve our budgets even when it was difficult to do so. Tim’s leadership has helped us to acquire a new building that puts the association in a much better financial position for the future. Finally, he has served as a role model for me and I’m grateful that he will be my past president helping me to continue to improve the NCBIA.
I just want to start out by saying that I’m humbled and honored to be serving as the President of this great association.
It is hard for me to believe that I’ve been a part of the NCBIA for 10 years now. I know that many of you have been in the industry your whole careers or for some their whole lives. This wasn’t my path, but I can tell you that I love the association and the building industry. I want to see it thrive once again. When Jen and I bought our business, one of the things that was important to us was to give back to the industry that was now our livelihood. The NCBIA quickly became that path for me. Judie started recruiting me the day that I met her in the first week of operating our business. When I joined, I immediately started getting involved by attending events and joining committees.
Over time, the association started giving back to me as well. First in making new friends. There are many people in the room that I’m happy and proud to say are friends of mine and I owe that to the NCBIA because that is what brought us together. Second, I wanted to give back and the association needed members who would give their time and their abilities so that became a strong connection that fortified my role and purpose in the organization. Third, I’ve come to realize and understand that our affiliations with OHBA and NAHB serve a great purpose, and they are working diligently to protect and enhance our industry. Finally, I’ve been fortunate to work with many folks in the room. Some who use us as a subcontractor on many of their projects and also for those who have needed our help in their own homes or the homes of their family members and friends. We are thankful for those opportunities.
I encourage everyone in this room and everyone who belongs to the association to reflect on what the NCBIA means to you and what you get from it. I also challenge all of the members to reflect on what you are giving back to the industry you are a part of and how you can strengthen that partnership. When you are thinking about what you get from the association, please share that with me and the board of directors and let us know what we can do to enhance and grow that. If we are falling down on something, hold us accountable. When you think about what you give back to the NCBIA, my ask is that you also hold yourself accountable. Find a way to strengthen or enhance that this year.
I look forward to a great year in 2025 and to continuing the great work of Tim and the other past leaders of the NCBIA. We will continue to work specifically on growing and retaining our membership, delivering value for our members, increasing member involvement, workforce development, brand awareness, and industry education. We are an industry that brings to life the American dream of home ownership and I’m excited to work with all of you continuing to make that a reality in 2025.
John Toth, Floor Coverings International
OUTGOING 2023-24 PRESIDENT’S SPEECH From Installation Night
Tim King, K. Hovnanian Homes
You heard enough from me, so just a few words as I depart.
First, I would like to thank Judie and her staff, committees, and the Board of Directors, for their support.
Also, to my wife, Lisa, and kids for not getting too angry at my extra time away from home.
If you are not involved with a committee, on the board or if you do not attend many NCBIA events, think about doing so. These are all ways for you to network, build relationships, and improve your business. Giving to the industry we work in always gives back.
Last our association did well during my two years at President and we will be left in good hands with John taking the oath today to lead the NCBIA as our next President.
Cheers!
2025 NAHB Membership Drive
NAHB’s Membership Drive program is an exciting opportunity for HBAs to focus on membership recruitment and retention efforts while competing for prizes. New this year, new members and the NAHB member who recruited them will receive a free NAHB T-shirt, guaranteed to the first 1,000 orders.
Two HBA Prize Categories:
HBAs with 4.00%-6.99% Builder and Associate Member net growth will receive:
• One (1) complimentary IBS registration (Expo+Education)
• $750 travel stipend to assist with travel expenses
• $100 award for the HBA Executive Officer
• 2x bonus Spike credits
HBAs with 7% or higher Builder and Associate Member net growth will receive:
• Two (2) complimentary IBS registrations (Expo+Education)
• Two (2) $750 travel stipends to assist with travel expenses
• $150 award for the HBA Executive Officer
• 3x bonus Spike credits
IBS Prize Details
The 2026 NAHB International Builders’ Show is Feb. 14-19 in Orlando. If your HBA qualifies for a prize, you can choose a member (or members) to receive a complimentary IBS registration and travel stipend to attend the show. It’s a great way to help a member attend IBS for their first time or thank a top member recruiter.
What does the IBS Expo+Education Pass include?
• 3-day access to 100+ IBS education sessions
• 3-day entry to the IBS and KBIS exhibit floors and IBS Centrals
EXECUTIVE OFFICER'S Article
by Judie Docs, CSP, MCSP, MIRM, CMP, CGP
Stay Connected & Engaged
Over the past year, we have remained committed to serving as your voice, ensuring you receive the support and resources needed to navigate these times.
Many of you joined the NCBIA for professional development, industry connections, and business growth. Membership informs you of the latest trends and best practices—locally, regionally, and nationally. But beyond that, active involvement helps you build meaningful relationships with professionals who share your interests and challenges.
Get Involved—Strengthen Your Network
We encourage you to take full advantage of your membership. Join a committee, step into a leadership role, or attend our events. The connections you make here can be a lasting source of ideas, inspiration, and solutions when facing business challenges. Plus, having a strong support system boosts confidence when navigating obstacles.
Be sure to check your email inbox! Our What’s Happening Wednesday, Builder Newsletter and other updates contain valuable insights, industry news, and opportunities for involvement. These communications are designed to keep you informed and, at times, seek your input to help us better serve you.
Looking to expand your company’s visibility? Our Marketing Guide outlines ways we can help you promote your business to both members and consumers. Your investment in marketing not only grows your brand but also strengthens our collective efforts as an association.
Thank You for Your Partnership
I have unwavering confidence in the value of NCBIA membership. We remain laser-focused on advocating for you and strengthening our community. Our mission is clear:
"The North Coast Building Industry Association is dedicated to the advancement of the building industry, its members, and the communities it serves."
We appreciate your commitment and contributions. If there are additional ways we can support your business or ideas on enhancing our member experience, please reach out.
Contact me at: 440.934.1090
Email me at: judie@ncbia.com
Thank you for being a vital part of the NCBIA. We look forward to growing together!
ELECTION POST MORTEM; Now More Elections
It certainly seems that way here. After decisive election outcomes on the federal and state level, we are again facing a number of import ant expectations in the 2026 elections. It all began with filling the vacancy of S enator JD Vance to the office of Vice President.
The rumors swirling around the capitol were numerous; we were all chatting about differing outcomes. Some of the names most often mention would lead to another vacancy creating even more speculation. We expected a cascading of dominos to begin with so much at stake. When the final answ er was delivered, we all gasped as the successor was never mention nor anticipate d. Which, of course, led to renewed speculation.
Coach Jim Tressel was named by Governor DeWine to serve as the next Lieutenant Governor. The nomination was quickly confirmed by the house and senate. He was sworn in and now occupies the office as Lieutenant Governor. The next big IF is will he run for Governor? How does that impact the intentions of others who may enter the race? Treasurer Sprague abandoned his run for governor and moved to go after the secretary of state race. Attorney general Yost still appears to be in the governor’s race though a lofty federal post may be offered to him. Term limited senators are looking at the state treasurer; the list goes on.
This is all important to us as your chief advocate in the halls of state government. Not to minimize the importance but a number of sta te senators are term limited at the end of 2026. A number of current House members are ready to file for those offices setting up a few primary runs against one another. This all creates a scenario against which the many topics important to o ur membership may be impacted.
To get the inside information our agenda of items will be discussed in detail at our spring organizational meeting on March 11th at the Athletic Club of Columbus at 1 p.m. We hope to see you there. For more information, contact us at 800/282-3403.
Ohio Home Builders Association Phone- 614/228-6647
by Vincent J. Squillace, CAE, OHBA Exec. VP
Event Sponsors:
EVENT SPONSOR
Member: $2000
Non-Member: $2500
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)
($500)
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.
*If you select credit card, our office will call for your card information.
QUESTIONS? CONTACT THE NCBIA www.ncbia.com (440) 934-1090 judie@ncbia.com
Supporting Sponsors:
Sponsor:
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 – 2/27
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!
SINGLE - FAMILY PERMITS END 2024 with Strong Momentum
Over 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 981,834. On a year-over-year (YoY) basis, this is an increase of 8.0% over the 2023 level of 909,227.
Year-to-date ending in December, single-family permits were up in all four regions. The range of permit increases spanned 11.1% in the Midwest to 6.2% in the South. The West was up by 10.9% and the Northeast was up by 9.3% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, driven by New York City’s MSA, was the only region to post an increase and was up by 38.5%. Meanwhile, the West posted a decline of 26.9%, the South declined by 19.5%, and the Midwest declined by 1.1%.
Between December 2024 YTD and December 2023 YTD, 45 states posted an increase in single-family permits. The range of increases spanned 33.8% in Montana to 0.1% in South Dakota. The remining five states and the District of Columbia reported declines in single-family permits. The ten states issuing the highest number of single-family permits combined accounted for 63.1% of the total singlefamily permits issued. Texas, the state with the highest number of single-family permits, issued 158,544 permits over 2024, which is an increase of 9.3% compared to the same period last year. The second highest state, Florida, was down by 0.9%, while the third highest, North Carolina, posted an increase of 6.7%.
BY: DANUSHKA NANAYAKKARA-SKILLINGTON
For 2024, the total number of multifamily permits issued nationwide reached 489,533. This is 12.8% below the 2023 level of 561,369.
Between December 2024 YTD and December 2023 YTD, 22 states recorded growth in multifamily permits, while 28 states and the District of Columbia recorded a decline. New York (+128.7%) led the way with a sharp rise in multifamily permits from 15,293 to 34,982, while Idaho had the biggest decline of 53.0% from 5,891 to 2,771. The ten states issuing the highest number of multifamily permits combined accounted for 62.4% of the multifamily permits issued. Over 2024, Texas, the state with the highest number of multifamily permits issued, experienced a decline of 18.6%. Florida, the second-highest state in multifamily permits, saw a decline of 27.5%. California, the third largest multifamily issuing state, decreased by 26.2%.
COST OF CONSTRUCTING a Home in 2024
BY: ERIC LYNCH
Construction costs account for 64.4% of the averge price of a home, according to NAHB’s most recent Cost of Construction Survey. In 2022, the share was 3.6 points lower, at 60.8%. The latest finding marks a record high for construction costs since the inception of the series in 1998 and the fifth instance where construction costs represented over 60% of the total sales price. The finished lot was the second largest cost at 13.7% of the sales price, down more than four percentage points from 17.8% in 2022. The share of finished lot to the total sales price has fallen consecutively in the last three surveys, reaching a series low in 2024.
The average builder profit margin was 11.0% in 2024, up less than a percentage point from 10.1% in 2022. At 5.7% in 2024, overhead and general expenses rose when compared to 2022 (5.1%). The remainder of the average home sale price consisted of sales commission (2.8%), financing costs (1.5%), and marketing costs (0.8%). Marketing costs were essentially unchanged while sales commission and financing costs decreased compared to their 2022 breakdowns.
Construction costs were broken down into eight major stages of construction. Interior finishes, at 24.1%, accounted for the largest share of construction costs, followed by major system rough-ins (19.2%), framing (16.6%), exterior finishes (13.4%), foundations (10.5%), site work (7.6%), final steps (6.5%), and other costs (2.1%).
Explore the interactive dashboard below to view the costs and percentage of construction costs for the eight stages and their 36 components.
Table 1 shows the same results as the dashboard above in table format. Please click here to be redirected to the full report (which includes historical results back to 1998).
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for Membership
Richard Barnett, 3rd Generation Construction
Keith Oberg, Ascent Custom Homes & Remodeling
Lynn Savarino, One Day Doors & Closets of Cleveland
Brett York, Roof Maxx of Elyria
Brian Searle, Floor Coverings International
John Daly, Network Land Title Agency
Kenneth Hutman, B.W. Plumbing Company
Matt Garland, Garland New Homes
Aaron Kalizewski, Grande Maison Construction Company, LLC
Tim Hinkle, Green Quest Homes, LLC
Jeff Reichert, J.L. Reichert Paving, Inc.
Jim Tipple, Maranatha Custom Homes, Inc.
Tracy Goldsmith, Northern Ohio Basement Waterproofing, Inc.
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable lots. Overall housing starts increased 15.8% in December to a seasonally adjusted annual rate of 1.50 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest rate since February 2024. The December reading of 1.50 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 3.3% to a 1.05 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 61.5%for December to a 449,000 pace.
Total housing starts for 2024 were 1.36 million, a 3.9% decline from the 1.42 million total from 2023. Single-family starts in 2024 totaled 1.01 million, up 6.5% from the previous year. NAHB is forecasting a slight gain for single-family home building in 2025 because of a persistent housing shortage and ongoing solid economic conditions.
Multifamily starts ended the year down 25% from 2023. In December, and on a three-month moving average basis, there were 1.7 apartments completing construction for every one apartment starting construction. Multifamily construction will stabilize later in 2025 as more deals pencil out, with the industry supported by a low national unemployment rate.
Single-family completions ended 2024 up 2.2%. Multifamily completions ended 2024 up 35%. Within multifamily, the missing middle (twoto four-unit completions) were up 42.5%, for a total of 16,600 duplexes through quadplexes. Like ongoing strength for townhouse construction, this market data indicates that with zoning reform more medium density housing can be built in markets where such demand exists.
On a regional and for 2024 year, combined single-family and multifamily starts were 9.1% higher in the Northeast, 0.1% lower in the Midwest, 5.2% lower in the South and 7.7% lower in the West.
Overall permits decreased 0.7% a 1.48 million unit annualized rate in December and were down 3.1% compared to December 2023. Single-family permits increased 1.6% to a 992,000 unit rate but were down 2.5% in December compared to the previous year. Multifamily permits decreased 5.0% to a 491,000 pace.
Looking at regional permit data for 2024 permits were 1.5% higher in the Northeast, 3.5% higher in the Midwest, 3.1% lower in the South and 6.6% lower in the West.
Total permits for 2024 were 1.47 million, a 2.6% decline from the 1.51 million total from 2023. Single-family permits in 2024 totaled 981,000 up 6.6% from the previous year, a positive sign for 2025.
The number of single-family homes under construction was down 5.3% from a year ago, at 641,000 homes. The number of apartments under construction was down 21% from a year ago, at 790,000. The count of apartments under construction peaked in July 2023 at 1.02 million and has been trending lower since that time.
ON HOUSING
REMODELING MARKET SENTIMENT Improves in Fourth Quarter of 2024
BY: ERIC LYNCH
The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 68 for the fourth quarter of 2024, up five points compared to the previous quarter.
Remodelers are more optimistic about the market than they were earlier in the year, corroborated by NAHB’s recent analysis of home improvement loan applications . Demand in many parts of the country was stronger than usual for the fall season, especially demand for larger projects, with leads coming in after the uncertainty about the November elections was removed. Not only did the current conditions index for $50,000-plus projects show the greatest increase during the quarter, but the share of remodelers doing whole house remodeling reached a record high of 62%.
The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market “good”, “fair” or “poor.” Responses from each question are converted to an index that lies on a scale from 0 to 100. An index number above 50 indicates a higher proportion of respondents view conditions as good rather than poor.
Current Conditions
The Remodeling Market Index (RMI) is an average of two major component indices: the Current Conditions Index and the Future Indicators Index.
The Current Conditions Index is an average of three subcomponents: the current market for large remodeling projects ($50,000 or more), moderately sized projects ($20,000 to $49,999), and small projects (under $20,000). In the fourth quarter of 2024, the Current Conditions Index averaged 75, increasing three points from the previous quarter. All three components remained well above 50 in positive territory: large remodeling projects rose eight points to 75, moderate remodeling projects increased two points to 73, and small remodeling projects inched down one point to 76.
Future Indicators
The Future Indicators Index is an average of two subcomponents: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects.
In the fourth quarter of 2024, the Future Indicators Index was 61, up six points from the previous quarter. The component measuring the current rate at which leads and inquiries are coming jumped nine points to 62. Meanwhile, the component measuring in the backlog of remodeling jobs rose two points to 59 quarter-over-quarter.
For the full set of RMI tables, including regional indices and a complete history for each RMI component, please visit NAHB’s RMI web page
2024 OHBA YEAR IN REVIEW
OHBA ACCOMPLISHED HUGE FEAT IN ENSURING REMODELING COVERED UNDER HOME CONSTRUCTION SERVICE SUPPLIER ACT
After multiple appeals court opinions ruling ‘remodeling’ was not construction, thus covered by the Consumer Sales Practices Act and subject to strict liability and treble damages, OHBA went to the legislature to clarify the law, as intended. In a huge feat before the legislature broke for summer recess, OHBA was successful with an amendment to include remodeling in the definition of ‘home construction service’ to be covered by the Home Construction Services Suppliers Act.
OHBA STREAMLINED RESIDENTIAL DEVELOPMENT PROPERTY TAX EXEMPTION PROCESS
After successfully getting changes in the law enacted to exempt the increase in value of residential development property until the lot is sold or construction begins, OHBA was again victorious in streamlining the application process. Changes in the approving authority and appeals process shortened the implementation timing significantly
OHBA TESTIFIED ON LACK OF SUPPLY IN
SENATE SELECT COMMITTEE ON HOUSING
OHBA President, Enzo Perfetto, and Executive Officer, Vince Squillace testified on behalf of OHBA bringing both experience as a builder and industry expert to reiterate the impact of regulation and the importance of private development in the critical lack of housing supply.
OHBA provided a list of recommendations, including but not limited to line extension costs, building code review, land development standards, referenda and zoning reform, among others.
TECHNICAL FEASIBILITY OF ARC FAULT PROVISIONS CHALLENGED
With the most recent adoption of the 2023 NEC and expansion in prior versions of the NEC, OHBA urged members having any issues with Arc fault and Dual function breakers across multi-family and single-family business to send along to the Residential Construction Advisory Committee (RCAC) and OHBA for consideration. One of the statutory requirements for the review of any code change is ‘technical feasibility’ giving OHBA an avenue to challenge based in the revised code.
MISTAKE IN ADOPTION OF NEC 2023 OHIO EXCEPTION CORRECTED
The 2023 NEC was set to become effective March 1, 2024. After learning an exception to GFCI requirements intended by the RCAC/BBS to be included in the new code was mistakenly left out of the final rule, OHBA ensured it was to be corrected immediately.
The GFCI exception for sump pumps maintained from the current code remains in the 2023 NEC after the Board of Building Standards refiled the corrected rule with the Joint Committee on Agency Rule Review (JCARR). The need to refile resulted in the effective date being pushed back by at least 30 days while the corrected rule went through the JCARR review before final filing.
OHBA SUPPORTED VARIOUS APPROACHES TO ADDRESS HOUSING SHORTAGE
OHBA continued to urge legislators, regulators, and industry partners to look at the impact of regulation and land development costs. Developed lots are a crucial piece to the housing puzzle; this remained the consistent message from OHBA in these ongoing discussions. OHBA urged lawmakers and industry partners to focus on what can be done to deal with the shortage of available, reasonably priced lots where additional homes can be built. Infrastructure needs, development standards, utility capacity, referenda, and a meaningful comprehensive plan were a few discussion points.
OHBA SUPPORTED VARIOUS APPROACHES TO ADDRESS HOUSING SHORTAGE
OHBA continued to urge legislators, regulators, and industry partners to look at the impact of regulation and land development costs. Developed lots are a crucial piece to the housing puzzle; this remained the consistent message from OHBA in these ongoing discussions. OHBA urged lawmakers and industry partners to focus on what can be done to deal with the shortage of available, reasonably priced lots where additional homes can be built. Infrastructure needs, development standards, utility capacity, referenda, and a meaningful comprehensive plan were a few discussion points.
MONITORED IMPLEMENTATION OF ELEVATOR CONTRACTOR/MECHANIC LICENSING RULES
After passage of legislation, those who install or maintain elevators had one year to obtain an elevator contractor's or elevator mechanic's license. Contractors and mechanics will have until Nov. 1, 2025, to be licensed. Previously, only elevator inspectors were required to be licensed.
OHBA was successful in exempting licensure for those performing work in a private residence and on platform lifts and stairway chairlifts within the scope of the safety standard adopted by the American society of mechanical engineers commonly referred to as ASME A18.1.
There were grandfathering provisions included in the legislation for those contractors/mechanics already practicing in the field and able to show meet the experience requirements.
OHIO DEPARTMENT OF DEVELOPMENT LOOKED TO OHBA FOR FUNDING IDEAS
Ohio Department of Development Director and staff reached out to OHBA for insight as the department considered how funding could help bring more housing opportunities around the state.
OHBA JOINED IN EFFORTS TO ADDRESS ISSUES WITH BUFFALO DISTRICT
OHBA joined efforts urging action to address issues with the Army Corp of Engineers Buffalo District. Industry groups and numerous members of the Ohio Congressional Delegation signed on in support of consolidating Ohio under one district to combat ongoing issues.
ANNUAL MEETING WITH BUREAU OF WORKERS COMPENSATION ASSOCIATION REPRESENTATIVE
OHBA held its required meeting with the BWC Association representative on its group rating program, as well as, all other products and services offered by the Bureau.
OHBA CONTINUED STRONG
REPRESENTATION ON BUILDING CODE BOARDS
Both the Residential Construction Advisory Committee (RCAC) and Board of Building Standards (BBS) include active members of OHBA engaging in the code review and adoption process. Maintaining a reasonable residential building code for Ohio is a top priority for OHBA. This goal is constantly being threatened by more stringent codes being proposed at the National level. Both the IECC and NEC are two recent examples. Fortunately, the Residential Construction Advisory Committee is statutorily required to perform a thorough review of these codes including cost impact and technical feasibility. The members of the RCAC and BBS play a crucial role in keeping Ohio’s code reasonable.
CONTINUED ENGAGEMENT WITH UTILITY PARTNERS
Throughout the year, OHBA met with numerous utilities, both gas and electric, to engage the groups on potential development standards or ways to provide more consistent expectations. Additionally, OHBA worked with the Public Utility Commission (PUCO) to explore what comes under its authority.
SKILLSUSA OHIO TEAMWORKS SPONSORSHIP AND PARTICIPATION
OHBA continued to be the main sponsor for the SkillsUSA Teamworks competition which brought an impressive turnout of young men and women competing in the various construction trades. Several OHBA past presidents served as judges and volunteered throughout the competition.
LEGISLATIVE REVIEW
REVIEW AND
ADOPTION
OF MINIMUM QUANTIFIABLE STANDARDS UPDATES
As the adopting body of the workmanlike standards for the industry, OHBA reviewed and adopted the Seventh Edition of the Minimum Quantifiable Standards.
CONTINUING AGENCY AND LEGISLATIVE FOLLOW UP
While agency issues are always ongoing, many of the legislative issues from 2024 will likely continue into the new year. Throughout the year, OHBA received questions from around the state on enforcement of multiple regulations, including, but not limited to utility, environmental and building code issues. OHBA provided valuable insight and contacts to help mitigate issues brought to OHBA’s attention.
MONITORED LEGISLATION
HB 203 Construction Projects; HB 327 Employee Verification; HB 466 Real Estate Transactions; SB 41 Building Inspections; SB 238 Construction Contractors; SB 243 Zoning Regulations; SB 245 Housing;
Ohio Home Builders Association Phone- 614/228-6647
February 19, 2025 Report #1 Legislative Update
OHBA INVITED TO TESTIFY BY CHAIRMAN OF HOUSE DEVELOPMENT COMMITTEE
Chairman Jim Hoops invited Vince Squillace to testify on behalf of OHBA on residential development in Ohio during one of the first meetings of the House Development Committee. Vince’s testimony acknowledged the critical shortage of housing, focusing mainly on the lack of developed lots and regulatory burdens inhibiting the supply of more affordable lots.
After thanking the legislature for prior actions such as modifying the tax assessment of residential development property, addressing ephemeral streams, and requiring review of building codes, Vince offered several suggestions to address current shortage. His testimony can be viewed at the link below.
COMMITTEE HEARS SPONSOR TESTIMONY ON HIGH VOLUME LANDLORD LEGISLATION
Senator Bill Blessing gave sponsor testimony on SB 28 in the Senate Housing Committee this week. The bill imposes a new tax on certain high-volume landlords, beginning in the first full calendar year after the tax’s effective date.1 The tax, referred to as the “housing market impact tax,” is imposed on any person or combined taxpayer group that owns 50 or more “taxable houses” in a single county. A taxable house is any single-family, two-family, or three-family dwelling. When a county auditor is aware that a landlord owns the requisite number of houses, the auditor must provide notice on the landlord’s tax bill. The legislative text and bill analysis can be found at the link below.
SENATE HOUSING COMMITTEE HEARS FROM REALTORS ON ITS UPCOMING PLANBOOK
In their presentation to the Committee, the Ohio Realtors highlighted a pre-approved plans book the group, in collaboration with Greater Ohio Policy Center, is set to roll out later this year. According to the realtors, this solution will help expedite the process and cut down on costs, focusing on areas of infill development. In addition to the pre-approved plan book for local governments, their suggestions included inclusionary zoning and modular housing.
OHIO CHAMBER OF COMMERCE 2025 HOUSING SUMMIT TAKING PLACE THIS WEEK
The Chamber of Commerce will be hosting its annual housing summit at the Statehouse on February 20, 2025. OHBA’s Vince Squillace will serve on the afternoon panel “Creating YIMBY in Ohio”. The day long event will include multiple panels and topics, including legislators and other industry stakeholders.
Feel free to contact OHBA with any questions or comments at 614-228-6647 or build@ohiohba.com.
OHBA SPRING ORGANIZATIONAL MEETING
OHBA’s Spring Organizational Meeting will take place on Tuesday, March 11th at the Athletic Club of Columbus. Information has been emailed out on the meeting. If you need additional information, please contact us at build@ohiohba.com. Ohio Home Builders Association Phone- 614/228-6647
PHOTO GALLERY
Doors Open: 5:30pm Dinner: 6:30pm Races: 7:30pm American Legion Post 211 31972 Walker Road Avon Lake, Ohio $25 per person *Includes Buffet Dinner, Desserts and Cash Bar *21 and Older Only Please Your Name:
There has never been a better time to be a Carter Lumber customer in the Cleveland/Akron area. We now have even more resources to provide our customers with quality materials and exceptional service. We’re more than just a lumberyard!
Contact your nearest store location to see how having Carter Lumber as a part of your team can help you grow your business and your bottom line.
3725 Medina Rd. Medina, OH 44256 • (330) 725-6760
467 Center St. Chardon, OH 44024 • (440) 286-3833 172 N. Case Ave. Akron, OH 44305 • (330) 784-5441 3779 Manchester Rd. Akron, OH 44319 • (330) 645-6404
carterlumber.com
completed form to Judie@NCBIA.com or mail to: 5321 Meadow Lane Court B, Suite 23,
6320 N. Ridge Rd. Madison, OH 44057 • (440) 428-1110
Sponsorship Opportunities
Win Place Or Show Sponsor - Sold Out!
• Includes 8 tickets to the event
• Logo on Placemats and On Program Cover, Mic Time, Verbal Recognition, and Ad on All Social Media Platforms
Stable Sponsor: $1000 - Unlimited
• Includes 8 tickets to the event,
• Logo on Placemats and in Program, Mic Time, Verbal Recognition
Winners Circle Sponsor: $500 - Unlimited
• Includes 4 tickets to the Event
• Logo on Table Placemats and in Program, Verbal Recognition
Bar Sponsor: $400 - Only 1 Remaining
• Includes 2 tickets to event
• Logo on Napkins for Bar, Ad in Program
Name a Race**: $150 - 8 Available
• Listed in Program and Announced During Racing Event.
Table Sponsor: $100 - Unlimited
• Ad in program and on Placemats;
• Verbal recognition
Name a Horse**: $20 - Only 90 Available
• Horse Name and Owner Listed in Program and Announced During Racing Event.
• If Your Horse Wins its Race You Win $50!
** If You Choose to “Name a Horse” or “Name a Race” a Committee Member Will Reach Out to You Prior to the Event for Naming Selections
Questions? Call a Committee Member:
Sara Majzun 440-752-7061
John Toth 216-409-7277
Jeremy Vorndran 440-213-6729
Why Enter?
Circle of Excellence celebrates the top projects completed by the finest builders, remodelers, and all other members of the North Coast Building Industry Association (NCBIA). Winning a Circle of Excellence award allows your company to advertise to consumers as an “award-winning” company.
Eligibility
The candidate must be a NCBIA member in good standing. Entry must have been created, produced, or marketed between November 1, 2023 and December 31, 2024.
Entry Preparation
Complete entry must be received by the NCBIA and may be submitted via email with ONE attachment of required items, or in a binder delivered to the NCBIA office, No later than March 31, 2025 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.
Marketing:
Provide a set of floor 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.
DEVELOPER OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
Entry Fee: $75
Entry Requirements:
REMODELER OF THE YEAR -SMALL VOLUME Under $3,000,000
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
Marketing:
Submit four photos (before and after) of your most impressive project.
Entry Fee: $75
Entry Requirements:
REMODELER OF THE YEAR -LARGE VOLUME Over $3,000,000
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
Marketing:
Submit four photos (before and after) of your most impressive project.
ASSOCIATE OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
SUPPLIER OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
TRADE OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
AFFILIATE OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
SALES MANAGER OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
ROOKIE SALES PROFESSIONAL OF THE YEAR
Entry Fee: $75
Entry Requirements:
Please submit a paragraph explaining why you (or the person you are nominating) deserves this award.
Entry Fee: $75
Entry Requirements:
BEST SALES/DESIGN CENTER
Please submit a paragraph explaining why this sales/design center deserves this award. Submit three photos of the sales/design center.
BEST SUPERINTENDENT/PRODUCTION MANAGER
Entry Fee: $75
Entry Requirements:
Describe the primary responsibilities of the nominated person. Explain why this person should be recognized.
BEST DEVELOPMENT ENTRANCE/SIGNAGE
Entry Fee: $75
Entry Requirements:
Submit one photo of the entrance/signage of development.
BEST PRODUCTION HOME
Entry Fee: $75 per entry
Entry Requirements:
Submit one copy of the floor 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 Product Design
Under 2,000 square feet
2,001-3,000 square feet
3,001-4,000 square feet
Over 4,000 square feet
Best Condo/Cluster Product Design
Under 2,000 square feet
2,001-3,000 square feet
3,001-4,000 square feet
Over 4,000 square feet
BEST PRODUCTION HOME FRONT ELEVATION
Entry Fee: $75
Entry Requirements:
Submit one photo of the front elevation.
BEST PRODUCTION HOME CREATIVE USE OF SPACE
Entry Fee: $75
Entry Requirements:
Brief description of the area. Submit 2-3 color photos of the area.
BEST PRODUCTION HOME UNIVERSAL DESIGN FLOOR PLAN
Entry Fee: $75
Entry Requirements:
Submit one photo of the front elevation.
BEST PRODUCTION HOME FLOOR PLAN
Entry Fee: $75 per entry
Entry Requirements:
Submit one photo of the floor plan.
Brief description of the project.
Under 2,000 square feet
2,001-3,000 square feet
3,001-4,000 square feet
Over 4,000 square feet
BEST PRODUCTION HOME INTERIOR MERCHANDISING
Entry Fee: $75
Entry Requirements:
Submit at least three photos of interior merchandising.
BEST CUSTOM HOME
Entry Fee: $75 per entry
Entry Requirements:
Submit one copy of the floor 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 CUSTOM HOME FRONT ELEVATION
Entry Fee: $75
Entry Requirements:
Submit one photo of the front elevation.
BEST CUSTOM HOME FLOOR PLAN
Entry Fee: $75
Entry Requirements:
Submit one photo of the floor plan.
Brief description of the project.
Under 2,000 square feet
2,001-3,000 square feet
3,001-4,000 square feet
Over 4,000 square feet
BEST CUSTOM HOME INTERIOR MERCHANDISING
Entry Fee: $75
Entry Requirements:
Submit at least three photos of interior merchandising.
BEST CUSTOM HOME CREATIVE USE OF SPACE
Entry Fee: $75
Entry Requirements:
Brief Description of the area. Submit 2-3 color photos of the area.
CUSTOM HOME UNIVERSAL DESIGN FLOOR PLAN
Entry Fee: $75
Entry Requirements:
Submit one copy of the floor plan. Brief description of the project.
BEST TRENDSETTING TECHNOLOGY IN HOME DESIGN (PRODUCTION OR CUSTOM)
Entry Fee: $75
Entry Requirements:
Brief description of trendsetting technology. Submit at least one photo of the technology.
Entry Fee: $75
Categories:
BEST LANDSCAPING DESIGN
Best Residential Landscape Best Commercial Landscape
Entry Requirements:
Submit before and after photo(s).
BEST COMMUNITY (PRODUCTION OR CUSTOM)
Entry Fee: $75
Categories:
Best Single-Family Community Best Cluster/Condo Community
Entry Requirements:
Submit description of community. Submit Plat.
BEST ACHIEVEMENT IN NEW HOME SALES
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, 2023 and October 31, 2024. All entry forms must be validated by the builder with list of transactions, total volume of transactions and date transactions closed.
Categories:
Bronze Award
Silver Award
Gold Award
Platinum Award
$1,000,000-$2,000,000
$2,000,001-$5,000,000
$5,000,001-$10,000,000
$10,000,001 and over
BEST MARKETING
Entry Fee: $75 per entry
Entry Requirements:
Submit copy of marketing piece.
Best Advertisement-Builder Category
Best Marketing Piece (online or print) - Ad, Brochure, Flyer, Newsletter, Website
Best Advertisement-Associate Category
Best Marketing Piece (online or print) - Ad, Brochure, Flyer, Newsletter, Website
BEST COMMERCIAL BUILD
Entry Fee: $75 per entry
Entry Requirements:
Submit one copy of the floor plan. Submit color photo of each: exterior & up to four interior photos.
Under 3,000 square feet
Over 3,000 square feet
BEST COMMERCIAL REMODEL
Entry Fee: $75 per entry
Entry Requirements:
Submit before and after photo(s).
Under $150,000
Over $150,000
Small and Large Volume Remodelers
The following Categories are available for BOTH Small and Large Volume Remodeling Companies -SMALL VOLUME Under $3,000,000/yr -LARGE VOLUME Over $3,000,000/yr
BEST KITCHEN REMODEL
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $50,000
$50,001 - $100,000
Over $100,000
BEST BATHROOM REMODEL
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $25,000
$25,001 - $50,000
Over $50,000
BEST BASEMENT REMODEL
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $50,000
$50,001 - $100,000
Over $100,000
BEST ADDITION
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $50,000
$50,001 - $100,000
Over $100,000
BEST AGING-IN-PLACE REMODEL
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $50,000
$50,001 - $100,000
Over $100,000
BEST ENTIRE HOUSE REMODEL
Entry Fee: $75 per entry
Categories:
Small Volume Remodeler (Under $3,000,000)
Large Volume Remodeler (Over $3,000,000)
Entry Requirements:
Submit before and after photo(s).
Under $250,000
$250,001 to $500,000
$500,001 to $1,000,000
Over $1,000,000
Important Dates:
Deadline for Entry Forms and Upload Entries Online: Monday, March 31, 2025 (as well as for binders)
Award Ceremony: Wednesday, May 7, 2025
Location : TBD
Once entry form is received, information on how to upload your entries will be emailed to you.
Company Name (as you would like it to appear on an award):
Contact Person:
Address:
City, State & Zip:
Email address:
# of Entries X $75 per entry = Total Amount Due:$ Check Enclosed Made Payable to NCBIA Send Invoice Pay by Credit Card
Credit Card Authorization
Name on Card:
Billing Address:
Card Number:
Expiration: / CRV: Billing Zip:
Signature:
A 3% Convenience Fee Will Be Charged for all Credit Card Payments
If you would rather call with credit card information - 440-289-4284 - Judie
Mail Completed form along with entry sheet to : 5321 Meadow Lane Court -B Suite 23, Sheffield Village, OH 44035 or email (judie@ncbia.com) by Monday, March 31, 2025
Entries: Please check the categories below that you are entering.
BUILDER OF THE YEAR
DEVELOPER OF THE YEAR
REMODELER OF THE YEAR-
Small Volume ( Under $3,000,000)
REMODELER OF THE YEARLarge Volume ( Over $3,000,000)
ASSOCIATE OF THE YEAR
SUPPLIER OF THE YEAR
TRADE OF THE YEAR
AFFILIATE OF THE YEAR
SALES MANAGER OF THE YEAR
ROOKIE SALES PROFESSIONAL OF THE YEAR
BEST SALES/DESIGN CENTER
BEST SUPERINTENDENT
/PRODUCTION MANAGER
BEST DEVELOPMENT ENTRANCE/SIGNAGE
□ Under 2,000 square feet
□ 2,001-3,000 square feet
□ 3,001-4,000 square feet
□ Over 4,000 square feet
BEST PRODUCTION HOME - BEST CONDO / CLUSTER PRODUCT DESIGN
□ Under 2,000 square feet
□ 2,001-3,000 square feet
□ 3,001-4,000 square feet
□ Over 4,000 square feet
BEST PRODUCTION HOME - SINGLE-FAMILY PRODUCT DESIGN BEST PRODUCTION HOME FRONT ELEVATION
Entries: Please check the categories below that you are entering.
LARGE VOLUME REMODELER CATEGORIES ( Over $3,000,000)
BEST KITCHEN REMODEL - LARGE VOLUME REMODEL
□ Under $50,000
□ $50,001 - $100,000
□ Over $100,000
BEST BATHROOM REMODEL - LARGE VOLUME REMODEL
□ Under $25,000
□ $25,001 - $50,000
□ Over $50,000
BEST BASEMENT REMODEL - LARGE VOLUME REMODEL
□ Under $50,000
□ $50,001 - $100,000
□ Over $100,000
BEST ADDITION - LARGE VOLUME REMODEL
□ Under $50,000
□ $50,001 - $100,000
□ Over $100,000
BEST AGING-IN-PLACE REMODEL - LARGE VOLUME REMODEL
□ Under $50,000
□ $50,001 - $100,000
□ Over $100,000
BEST ENTIRE HOUSE REMODEL - LARGE VOLUME REMODEL
□ Under $250,000
□ $250,001 - $500,000
□ $500,001 - $1,000,000
□ Over $100,000
ON HOUSING
BUILDING CONFIDENCE EDGES UP EVEN as Market Risk Concerns Rise
Builder sentiment edged higher to begin the year on hopes for an improved economic growth and regulatory environment. At the same time, builders expressed concerns over building material tariffs and costs and a larger government deficit that would put upward pressure on inflation and mortgage rates.
Builder confidence in the market for newly built singlefamily homes was 47 in January, up one point from December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
Builders are facing continued challenges for housing demand in the near-term, with mortgage rates up from near 6.1% in late September to above 6.9% today. Land is expensive and financing for private builders remains costly. However, there is hope that policymakers are taking the impact of regulatory hurdles seriously and will make improvements in 2025.
NAHB is forecasting a slight gain for single-family housing starts in 2025, as the market faces offsetting upside and downside risks from an improving regulatory outlook and ongoing elevated interest rates,. And while ongoing, but slower, easing from the Federal Reserve should help financing for private builders currently squeezed out of some local markets, builders report cancellations are climbing as a direct result of mortgage rates rising back up near 7%.
BY: ROBERT DIETZ
The latest HMI survey also revealed that 30% of builders cut home prices in January. This share has been stable between 30% and 33% since last July. Meanwhile, the average price reduction was 5% in January, the same rate as in December. The use of sales incentives was 61% in January. This share has remained between 60% and 64% since last June.
Derived from a monthly survey that NAHB has been conducting for more than 35 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
The HMI index gauging current sales conditions rose three points to 51 and the gauge charting traffic of prospective buyers posted a two-point gain to 33. The component measuring sales expectations in the next six months fell six points to 60 because of the elevated interest rate environment. While this serves as a cautionary note, the future sales component is still the highest of the three sub-indices and well above the breakeven level of 50.
Looking at the three-month moving averages for regional HMI scores, the Northeast increased five points to 60, the Midwest moved one point higher to 47, the South posted a one-point gain to 46 and the West fell one point to 40. The HMI tables can be found at nahb.org/hmi.
TWO DAY SHOW!!!!!
EXHIBITOR CONTRACT
Company Name (as it will appear in show) __________________________________________
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
**A $5.00 Convenience Fee will be charged for all Credit Card Payments
EYE ON HOUSING
SOLID JOB MARKET in December
The U.S. labor market finished 2024 with solid job growth and a decrease in the unemployment rate.
In December, wage growth slowed. Wages grew at a 3.9% year-over-year (YOY) growth rate, down 0.3 percentage points from a year ago. Wage growth is outpacing inflation, which typically occurs as productivity increases.
National Employment
According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 256,000 in December. Since January 2021, the U.S. job market has added jobs for 48 consecutive months, making it the third-longest period of employment expansion on record.
The estimates for the previous two months were revised. The monthly change in total nonfarm payroll employment for October was revised up by 7,000, from +36,000 to +43,000, while the change for November was revised down by 15,000 from +227,000 to +212,000. Combined, the revisions were 8,000 lower than previously reported.
In 2024, more than 2.3 million jobs were created. Additionally, monthly employment growth averaged 186,000 per month, compared to the 251,000 monthly average gain for 2023. The U.S. economy has created nearly 8.7 million jobs since March 2022, when the Fed enacted the first interest rate hike of this cycle.
The unemployment rate decreased to 4.1% in December. While the number of employed persons increased by 478,000, the number of unemployed persons decreased by 235,000.
BY: JING FU
Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—remained unchanged at 62.5%. For people aged between 25 and 54, the participation rate decreased one percentage point to 83.4%. While the overall labor force participation rate remains below its pre-pandemic levels of 63.3% at the beginning of 2020, the rate for people aged between 25 and 54 exceeds the pre-pandemic level of 83.1%.
In December, employment continued to trend up in health care (+46,000), government (+33,000), and social assistance (+23,000). Retail trade added 43,000 jobs, following a job loss in November.
Construction Employment
Employment in the overall construction sector increased by 8,000 in December, after 8,000 gains in November. While residential construction gained 4,000 jobs, nonresidential construction employment added 4,700 jobs for the month.
Residential construction employment now stands at 3.4 million in December, broken down as 961,000 builders and 2.4 million residential specialty trade contractors. The 6-month moving average of job gains for residential construction was 3,333 a month. Over the last 12 months, home builders and remodelers added 51,000 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained 1,396,200 positions.
In December, the unemployment rate for construction workers rose to 5.5% on a seasonally adjusted basis. The unemployment rate for construction workers has remained at a relatively lower level, after reaching 15.3% in April 2020 due to the housing demand impact of the COVID-19 pandemic.
EYE ON HOUSING BUILDERS' TOP Challenges for 2025
The most significant challenge builders faced in 2024 was high interest rates, as reported by 91% of builders in the latest NAHB/Wells Fargo Housing Market Index survey. A smaller, albeit still significant share of 78% expect interest rates to remain a problem in 2025. The next four most serious issues builders faced in 2024 were rising inflation in the U.S. economy (80%), buyers expecting
prices/interest rates to decline (77%), the cost/availability of developed lots (63%), and the cost/availability of labor (61%). Builders don’t expect much improvement in these challenges in 2025, except for rising inflation, which ‘only’ 52% see as a serious problem in the year ahead. In addition to those top tier challenges, 55% to 60% of builders also reported facing serious problems in 2024 with gridlock/uncertainty in Washington (60%), building material prices (57%), concern about employment/ economic situation (55%), impact/hook-up/inspection and other fees (55%), and negative media reports making buyers cautious (55%). Looking ahead at 2025, significantly fewer builders expect gridlock/uncertainty in Washington (32%) or have concerns about the employment/economic situation (39%). In contrast, more builders are expecting building material prices to be a problem in 2025 (64%) and about the same expect continuing problems with impact and other fees (58%).
BY: ASHOK CHALUVADI
Builders have been asked about their most serious challenges every year since 2011. High interest rates have been a problem for a negligible share of builders (under 10%) during most years, except for 2022 (66%), 2023 (90%), and 2024 (91%). When first introduced to the survey in 2021, 63% of builders reported challenges with rising inflation in the U.S. economy, but the share grew to at least 80% in 2022, 2023, and 2024. Prior to 2022, relatively few builders reported problems with buyers expecting prices or interest rates to fall, but that share rose to 49% in 2022, 71% in 2023, and 77% in 2024.
The cost/availability of developed lots has been a serious challenge to most builders in nine of the 14 years of the series history. In 2022, 51% of builders faced this problem; by 2024, 63% did—tying a record high set in 2019. Meanwhile, more than half of builders have reported the cost/availability of labor as a serious problem for the past 11 years in a row. While 82% and 85% of builders faced this challenge in 2021 and 2022, respectively, the share has eased to 73% in 2023 and to 61% in 2024.
For additional details, including a complete history for each reported and expected problem listed in the survey, please consult the full survey report.
INTEREST RATE RISKS for the New Year
The election results lifted expectations for economic growth and housing activity on hopes for regulatory reform and an extension of the 2017 tax cuts. However, while such factors have increased stock market prices, the bond market has reservations about possible inflationary impacts from a larger government deficit and tariffs. As a result, the 10-year Treasury rate increased from 3.6% in mid-September to near 4.2% this week. Mortgage interest rates increased as well, hovering near 6.7% last week.
Those higher interest rates took a toll on new home sales in October. Sales of newly built single-family homes declined 17% in October to a 610,000 seasonally adjusted annual rate. New home inventory increased almost 9% from a year ago to a count of 481,000. This marks a 9.5-month supply, although that high level (six months is considered balanced) is justified given the ongoing, nearly 4-month supply for the single-family resale market.
Despite affordability issues, the median new home sale price in October edged up 2.5% to $437,300 and is up 4.7% from a year ago. The share of entry-level homes priced below $300,000 has been steadily falling. Only 13% of new homes were priced in this entry-level range, while 37% of the homes were priced above $500,000. Most of the homes were priced between $300,000-$500,000.
The geography of new home construction continues to be tied to lower-density areas following the pandemic. The NAHB Home Building Geography Index (HBGI) finds that high-density counties (counties in the top 10% of population) constituted just under 40% of single-family construction in the first quarter of 2018, on a four-quarter moving average basis. But since then, the market share for these areas has fallen to 36%.
BY: ROBERT DIETZ
Despite higher interest rates, the labor market continues to be solid. Total nonfarm payroll employment rose by 227,000 in November, a sharp rebound from an upwardly revised increase of 36,000 jobs in October. Since January 2021, the U.S. job market has added jobs for 47 consecutive months, making it the thirdlongest period of employment expansion on record. The unemployment rate rose slightly to 4.2%, after holding at 4.1% through the previous two months.
Residential construction employment in November stood at 3.4 million (958,000 builders and 2.4 million residential specialty trade contractors). The 6-month moving average of job gains for residential construction was 2,983 a month. Over the last 12 months, home builders and remodelers added 52,400 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained nearly 1.4 million positions.
EYE ON THE ECONOMY A NEW YEAR with Familiar Interest Rates
Despite ongoing easing of short-term interest rates by the Federal Reserve, long-term interest rates remain in the same range they have been in for the last two years. Frustratingly, the 10-year Treasury rate began the week at 4.6%, about 100 basis points above NAHB's forecast from a year ago. With the average 30-year fixed-rate mortgage now near 6.9%, interest rates for home buyers are back to levels from last July but remain below October 2023 cycle peaks.
The rise in long-term rates has been driven by bond market concerns rather than monetary policy. After cutting the federal funds rate by 25 basis points in December, the Fed's policy rate target is now 75 basis points off the cycle high. Long-term interest rates have been driven higher because of improved economic growth prospects (a positive) as well as concerns over tariffs, a tight labor market and a potential increase to the federal deficit — all post-election changes for the economic outlook. Indeed, the Fed is projecting just two rate cuts for 2025, compared to earlier projections of four rate cuts, with a terminal rate for this cycle at 3.25% in 2026. The central bank also lifted its inflation forecast for 2025 to 2.5% (up from 2.1%), reflecting an even slower path back to its inflation target of 2.0%.
Amid these financial challenges, builder sentiment in December, as measured by the NAHB/HMI Housing Market Index (HMI), held steady at a level of 46. Nonetheless, builders remain confident that the positive factors of the outlook, including expectations for an improved regulatory environment and faster economic growth, will help spur the industry in 2025. As a reflection of that sentiment, the future sales component of the HMI increased three points in December — the highest reading since April 2022.
In November, single-family starts increased to a 1.01 million annual rate, rising 6.4% from the month prior and up 7.2% on a year-to-date basis. Multifamily construction slowed 23% in November to a 278,000 annual rate, with apartment construction on a path to be down almost 30% for the 2024 data.
In addition to elevated interest rates and a multi-decade low for housing affordability, inventory is rising and becoming a concern in some local markets. However, on a national level, inventory remains below historical norms. The 8.9-month supply of new construction combined with a 3.8-month supply for single-family resale homes yields a still-low total of a 4.5-month supply of all for-sale housing. While inventory is expected to rise in 2025, solid economic growth and a positive labor market should support demand for housing.
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