Year End 2022 Building Connections

Darien (Flagship Yard)

Lewisboro, NY

Your Monthly Newsletter

Building Connections is a monthly digital magazine produced and published by the Home Builders & Remodelers Association of Fairfield County. Inside you will find the latest association news, legislative updates, upcoming events, and featured articles about the industry.

Contact Us: hbra@buildfairfieldcounty.com www.buildfairfieldcounty.com @hbraffc (203) 335-7008

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Hello All,

I hope you everyone had a healthy and happy holiday season!

As I reflect on 2022, I would like to thank each and every one of our members for supporting the Building Industry with their membership. The time and dedication you all put in to this organization means everything to us. I would also like to make special thanks to our committee members and our Board of Directors for all their efforts to make the HBRA of Fairfield County the best it can be.

We are gearing up for a busy and productive 2023 and we are excited to see you in the new year!

As a reminder, if you know someone who would benefit from becoming a member-we are currently running a special for new members-Join now and come to your first 3 meetings for free!

Be sure to keep our online membership directory in mind whenever you are looking for a business: www.buildfairfieldcounty.com/directory.

Please do not hesitate to contact me if I can do anything for you or your business: kerry@buildfairfieldcounty.com

Kind Regards, Kerry Brunn

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Andersen is proud to support the Home Builders and Remodelers Assn. of Fairfield County and its members.

Fun

Bowling Bites

Sponsor: $750 Official dinner sponsor for the evening! - Logo on napkins - Logo on screens at each lane - Logo on eblast & registration page - 12 raffle tickets - Team of 6 bowlers with shoe rental - Food and 2 pitchers of beer for your team

Lane Sponsor: $375 - Team of 6 with shoes & reserved lane for 2 games - Food & 2 pitchers of beer - 6 raffle tickets - Company name on eblast & registration page - Company name on TV screen at lane

Raffle Prize Donation

2022 OFFICERS

Immediate Past President

Kim DiMatteo Cross Insurance

President: John Hertz Hertz Construction

Senior VP: Rob Michaud Michaud Group VP: Brian Kurtz Interstate Lumber

Treasurer: Steven Roth Elevator Service

Secretary: Karen Bradbury Closet & Storage Concepts

2022 DIRECTORS

Alex Shook Pella Windows

Bonnie Paige Bonnie Paige Interiors Chris Shea Domus Constructors LLC

George Pusser Cornerstone Contracting

Lisa Heldwhite Breakwater Development

Peter Sciaretta Hemingrway Construction

Stephen Gidley Stephen C. Gidley Inc.

Tori McBrien McBrien Interiors

LIFE DIRECTORS

Joanne Carroll JMC Resources

Jerry Effren

The Greyrock Companies

Gary Fanali City Carting

Peter Fusaro Preferred Builders

Michael Palumbo ERI Building & Design

Peter Gaboriault Bear Paw Builders

Terrence Beaty William Pitt Sotheby’s International Realty Chris Steiner Steiner, Inc.

Anthony DeRosa DeRosa Builders

DIAMOND

TITANIUM

C h e c k o u t o u r n e w e s t a t N o r t h e a s t K i t c h e n C e n t e r l o c a t e d a t 1 4 5 2 B a r n u m A v e , B r i d g e p o r t , C T !

N o r t h e a s t ' s A r c h i t e c t u r a l d i v i s i o n s u p p l i e d t h i s h o m e i n W e s t p o r t , C T w i t h A r c a d i a C u s t o m t h e r m a l s t e e l w i n d o w s a n d d o o r s . T h e s l e n d e r l i n e s a n d s t r e a m l i n e d p r o f i l e s c r e a t e a m i n i m a l i s t a e s t h e t i c a n d p o w e r f u l a r c h i t e c t u r a l a p p e a l .

2022 HBRA AWARDS

C O N G R A T U L A T I O N S T O O U R

A W A R D W I N N E R S !

B u i l d e r o f t h e Y e a r – C o r n e r s t o n e C o n t r a c t i n g

A s s o c i a t e o f t h e Y e a r – G e o f f r e y K n a p p , T o o h e rF e r r a r i s I n s u r a n c e R e m o d e l e r o f t h e Y e a r – S t e p h e n C . G i d l e y I n c . W o m a n o f t h e Y e a r – T o r i M c B r i e n , M c B r i e n I n t e r i o r s B u s i n e s s o f t h e Y e a r – C l o s e t a n d S t o r a g e C o n c e p t s S u p p l i e r o f t h e Y e a r – T o r r c o D e s i g n C e n t e r V o l u n t e e r o f t h e Y e a r – S t e v e n R o t h , E l e v a t o r S e r v i c e C o m p a n y M e m b e r o f t h e Y e a r – K i m D i M a t t e o N e w M e m b e r o f t h e Y e a r – T h e r e s a L a R o c k A m b a s s a d o r o f t h e Y e a r – R e b e c c a S t . G e r m a i n P r e s i d e n t ' s C h o i c e – R o b M i c h a u d , M i c h a u d D e v e l o p m e n t G r o u p H a l l o f F a m e – T e r e n c e B e a t y

Bethel | Branford | Danbury

Darien | Fairfield | Lewisboro | Madison

New Milford | Newtown | Niantic

North Stamford | Norwalk | Orange Stamford | Stratford | Trumbull Westport | Wethersfield | Wilton

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More Than 200,000 Construction Jobs Added Since November 2021

Year over year, construction sector jobs in the United States increased by 248,000 — a 3.3% increase compared to the November 2021 level. California added 37,200 jobs, which was the largest gain of any state, while South Carolina lost 4,700 construction sector jobs. In percentage terms, North Dakota had the highest annual growth rate in the construction sector by 15.6%. Over this period, South Carolina reported a decline of 4.5%.

Year over year ending in November, 4.9 million total jobs have been added, marking a more than full recovery of the labor market from the COVID-19 pandemic-induced recession. All the states and District of Columbia added jobs compared to a year ago. Texas reported the highest increase by 5.1%, while Mississippi was essentially unchanged (0.1%) compared to a year ago.

On a month-over-month basis, nationwide total nonfarm payroll employment increased by 263,000 in November, following a gain of 284,000 jobs in October, according to the Bureau of Labor Statistics.

Nonfarm payroll employment increased in 43 states and the District of Columbia in November compared to the previous month. Texas added 33,600 jobs, followed by Florida (28,100) and California (26,800). Seven states lost a total of 9,000 jobs.

Across the 48 states that reported construction sector jobs data — which includes both residential as well as non-residential construction — 36 states reported an increase in November compared to October, while eight lost construction sector jobs. Four states — Arkansas, Arizona, Maine and Tennessee — reported no change.

Danushka Nanayakkara-Skillington, NAHB assistant vice president for forecasting and analysis, provides more in this Eye on Housing post.

Read More

Big Savings for NAHB Members in 2022, and More to

Come in 2023

The NAHB Member Savings Program continues to make a big impact in boosting members’ bottom lines. Through the exclusive discounts from a variety of leading companies, NAHB members saved an estimated total of $37 million in 2022.

Much of that savings can be attributed to the program’s growing list of participating companies. During the past year, two new savings programs were added: Goodyear Tires and Voyager Fuel & Fleet Management Mastercard, giving members the chance to save thousands on automobile expenses.

And the Member Savings Program will add even more value in 2023 with new opportunities for members to save money on personal and business-related items. Within the first quarter of 2023, new member-exclusive discounts will be available through T-Mobile and Farmers Insurance. In addition to the four newest programs, the Member Savings Program will continue to feature 14 other prominent companies in 2023

Notable changes include the American Express program, which ended last fall, and General Motors, which will be pausing its member savings program after Jan. 3, 2023. However, NAHB’s member savings team is continually pursuing new partnership opportunities to bring as much value as possible to NAHB members.

Read More

November New Home Sales Up as Interest Rates Fall Back

While new home sales received a slight bounce in November from moderating mortgage rates, the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions. Sales of newly built, single-family homes in November increased 5.8% to a 640,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales are down 15.2%.

“Declining mortgage rates during the second half of November, combined with builder sales incentives, lifted the pace of new home sales for the month,” said Jerry Konter, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Savannah, Ga. “However, due to higher construction costs and ongoing supply-chain issues, the median price of a newlybuilt single-family home in November was $471,200, 9.5% higher than a year ago.”

Read More

Government Funding Bill Includes Additional $4.5 Billion for HUD

Congress has approved a $1.72 trillion spending bill that will fund the government through fiscal 2023, which ends on Sept. 30, 2023. Of note to the housing community, the measure includes a total of $58.2 billion for the U.S. Department of Housing and Urban Development, an increase of $4.5 billion above fiscal year 2022.

Read More

Reflecting a Weakening Housing Market, Builder Confidence Declined Every Month in 2022

High mortgage rates, elevated construction costs running well above the inflation rate and flagging consumer demand due to deteriorating affordability conditions have dragged builder sentiment down every month in 2022.

Builder confidence in the market for newly built single-family homes posted its 12th straight monthly decline in December, dropping two points to 31, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This is the lowest confidence reading since mid-2012, with the exception of the onset of the pandemic in the spring of 2020.

“In this high inflation, high mortgage rate environment, builders are struggling to keep housing affordable for home buyers,” said NAHB Chairman Jerry Konter, a home builder and developer from Savannah, Ga. “Our latest survey shows 62% of builders are using incentives to bolster sales, including providing mortgage rate buydowns, paying points for buyers and offering price reductions.

Read More

Single-Family Production Continues to Sag, Multifamily Permits Weakening

Single-family housing starts continued to fall in November, with the pace of construction down 32% since February when mortgage rates began to rise. The housing market continues to weaken because stubbornly high construction costs, elevated interest rates and flagging demand are harming housing affordability. And with the count of multifamily units under construction reaching a near 50-year high, multifamily permit growth is weakening.

Read More

NAHB Files Comments, Joins Coalition Opposing Changes to Independent Contractor Test

The U.S. Department of Labor recently published a proposed rule updating the test for determining whether a worker is an employee under the Fair Labor Standards Act (FLSA) or an independent contractor. NAHB last week submitted formal comments opposing the proposed rule, which is intended to combat employee misclassification, and would alter the test for independent contractor status under the FLSA as last articulated by the prior Administration.

The executive summary of the proposed rule notes: “[Workers who] are in business for themselves ... play an important role in the economy and are commonly referred to by different names, including independent contractor, self-employed and freelancer. This proposed Rulemaking is not intended to disrupt the businesses of independent contractors who are, as a matter of economic reality, in business for themselves.”

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The Pathway From Classroom to Construction

Winter break has arrived for most schools across the country, giving students a chance to enjoy a few days of relaxation and reflection before heading back in the new year. And for many, a new semester will provide a fresh opportunity for them to try something new – like residential construction.

Read More

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NAHB NEWS

Young Professionals Share Membership Tips and Seasonal Sips

Members of the NAHB Young Professionals (YPs) recently got together for a virtual happy hour to share success stories and celebrate accomplishments in 2022. Attendees also took the opportunity to discuss reasons why they joined YP, and for a little holiday fun, many of them shared their favorite cocktail recipes.

A Pathway to Success

Jenna Fitch, real estate agent at Furman Realty, looked to get involved with the Federation on the state and local levels. Discovering and reaching out to the YP group immediately allowed her to connect with other aspiring leaders.

“YP has helped me cultivate success because of the Federation’s huge network,” Fitch said. “I connected with leaders across the country, teaching me best practices and sharing past experiences that have shaped them.”

Read More

Gain Access to Exclusive Insights for Navigating a Complex Housing Market in 2023

Builder sentiment at the start of 2023 is nearly as low as it was back at the onset of the pandemic. Amid persistently high interest rates and the prospect of a mild recession, experts predict the first half of the year will be tough for housing. With such growing uncertainty surrounding housing demand, builders and other industry professionals need to proactively make educated business decisions...

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HBRA of Fairfield County | END OF YEAR 2022