h ba today THE OFFICIAL NEWSLETTER OF THE H O M E B U I L D E R S A S S O C I AT I O N O F S A G I N AW
D E C E M B E R 2 0 18
HBAS Leadership Your 2018 Board of Directors OFFICERS Steve Zietz, President Michele Bueker, Vice President Jeff Nicklyn, Treasurer Jim Boufford, Secretary Kevin Kerns, Immediate Past President
DIRECTORS Tim Gohm Louie Pomaville David Schauman Mark Wahl Mike Booker Tom Bailey
Tony Bosco Don Hollis Denis Reichard Tracy Reimus Dan Wortman Jason DeMitchell
Mike Tribble Debbie Beffrey Dennis Dittenber Ron Schauman Jeff Tithof
Passion in our craft. Pride in our community.
Mission Together we are a trusted resource of Building Industry professionals, dedicated to supporting the dream of homeownership, and taking pride in the development of our community.
Values PROFESSIONAL
Vision As Building Industry professionals, we continuously strive to create vibrant and stable communities - providing homes and craftwork that retain value. We envision the long-term growth of our community and association by maintaining quality relationships, community involvement, and being of service to others.
INTEGRITY PASSION ENGAGED LOYAL
Economic Growth Continues Solid Pace NAHB Chief Economist Robert Dietz has positive outlook for housing future. While the cost of mortgage financing and its impact on housing affordability are giving many prospective home buyers pause, the overall state of the economy remains positive, according to NAHB Chief Economist Robert Dietz. Following a 4.2% growth rate in the second quarter, third quarter real GDP growth came in at an annualized rate of 3.5%. This was the strongest
two-quarter performance in four years. And in October, the economy created 250,000 jobs, beating expectations and leaving the unemployment rate at a near 50-year low of 3.7%. Increases in the 10-year Treasury rate have pushed mortgage interest rates up in recent months. In September, the average rate on 30-year mortgages for new homes increased to 4.64%, up from
approximately 4% over the last 12 months. While higher rates have cooled home sales, home price appreciation remains solid, increasing at a 5.8% yearover-year basis according to the Case Shiller Index in August. Dietz provided this housing industry overview in the biweekly newsletter “Eye on the Economy.”
Supreme Court Ruling a Win for NAHB The U.S. Supreme Court in November handed down a decision in Weyerhaeuser Co. v. United States Fish and Wildlife Service, giving a victory to two NAHB members and land developers across the country. The case examined the Fish and Wildlife Service’s designation of over 1,500
acres of private property in Louisiana as “critical habitat” for the endangered dusky gopher frog. In an 8-0 opinion, the Supreme Court ordered the Court of Appeals for the Fifth Circuit to reconsider its decision that allowed the Service to designate the area as critical habitat. NAHB filed briefs in both the Fifth Circuit and Supreme Court.
Settlement Ends “Persuader Rule” In a victory for NAHB, the Department of Labor on Nov. 9 agreed to a settlement that keeps a permanent injunction in place that stops the “persuader rule” from taking effect and prevents a future administration from seeking to revive the rule. The Obama-era persuader rule sought to unfairly require lawyers and consultants to report to the DOL when counseling employers
concerning union organizing. And trade associations like NAHB would have been directly regulated under the rule if they engaged in certain activities, such as holding educational seminars on labor relations topics.
Mid-Term Elections & The Housing Agenda
The 2018 midterm elections delivered a split decision: Republicans expanded their majority in the Senate, picking up two seats to give them a 53-47 edge. Democrats picked up a net gain of 39 seats in the House to give them a majority for the first time since 2010. NAHB’s election summary looks at the election results and explains how the new political landscape will affect the housing agenda.
Become an Ambassador of the HBA
and their businesses. An HBA Ambassador is someone who strives to help others feel comfortable, enjoys sharing knowledge and learning, and understands and embraces the value of belonging to a closeknit community.
Connect with members, build relationships in the HBA, and keep this Association the pride of the community.
Roles and Responsibilities: -Foster and building spirit and community one or more of the following as interests and schedules permit -Contact new and renewing members periodically to welcome them, share news, invite to events, and to answer questions about membership they may have.
The HBAS Ambassadors attract, engage, and help to retain new and renewing members of the Association, focusing on value and a high-quality membership experience. Ambassadors strive to create a sense of community, with the intentions of growing our Association.
-Attend or help facilitate member orientation meetings and/or After Hours events to help welcome members and guests
Ambassadors hold high importance in the future growth and leadership within the Association by engaging, educating, and making sure all members understand how the HBA can support them
-Help coordinate connections with other members, volunteers, and leaders to create networking opportunities
Your HBAS Ambassadors •
Bridget Sadenwater, Greater MI Construction Academy
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Debbie Beffrey, Credit Services of MI
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Fred Wydra, Farmers Insurance
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Jeff Tithof, Tithof Construction
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Jennifer McDurmon, Independent Bank
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Kevin Quiroz, PaintBox Creations
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Laura Hill, The Maytag Store
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Michele Bueker, Bueker Development
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Mike Tribble, Yeo & Yeo CPAs
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Tony Bosco, Quality Windows & Doors
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Kyle Henion, Rummel Insurance
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Zack Robinson, My Member/Duclos Insurance
Photo Credit: Freepik
-Attend events and meetings to communicate with other members, collect potential leads, or engage with prospective and under-engaged members -Report members’ concerns, etc. to Membership Committee for follow up -Help educate prospective members on the importance of belonging to the HBA -Visit new members and encourage participation in programs, classes, committees, etc. -Attend monthly Ambassador Team lunch meetings Being an HBAS Ambassador will help you develop your networking opportunities while volunteering at various functions. Ambassadors serve in a leadership capacity as a liaison between the Association and its’ members. Contact HBA Saginaw today to become an Ambassador today.
60 Hour Builder Pre-License Course Residential Builder License Course & Lead Renovator Certification
WHEN January 14, 15, 21, 22, 23 2019 - 8am - 5pm
PRESENTED BY ED WENZ
WHERE HBA Saginaw 3165 Cabaret Tr. S. Saginaw, MI 48603
This course is the State approved Residential Builders Licensure course. You will learn all seven disciplines (42 hours of instruction) in addition to electives (18 hours of instruction) to fulfill the 60 hour State requirement. Instruction includes a full 8 hours daily with the final day being Full Lead Certification (included FREE with this course). You will receive the application forms and information needed regarding the Residential Builders exam during this course.
COST HBAS Members - $850 Non-Members - $1050
($200 Discount applied to HBAS Membership if you join)
Limited Seating. Payment required at time of registration. Full refund if canceled 2 weeks in advance.
You will receive 9 books, including the residential code book FREE with this course.
Company: _______________
Name: _______________
Address: _______________________________________ Email: ______________________
Phone: ____________
__ Invoice Me
__ Credit Card
__ Check Enclosed
Cardholder Name: _________________________________ Card No. ___________________ Exp. Date: _____ CVV: ____
RSVP BY DEC. 31
Send Registration To: tdimercurio@hbas.org | Fax: 989.793.0459 | hbas.org
Under “Education & Resources�
Veterans Find New Career in Home Building Veterans are finding support in the Building Industry
When HBI began training at Fort Stewart, the expectation was to serve approximately 50-60 separating soldiers in the first year. That target was met within the first year and a second instructor was hired to accommodate a growing waitlist of student soldiers. HBI’s Military and Veterans Program is planning to expand to other military bases.
Why participate in the HBI Military and Veterans Program? For veterans seeking skills and opportunity, the HBI Military and Veterans Program promises job readiness and career connections—all while inspiring hope, confidence and long-term success in its graduates. Through PreApprenticeship Certificate Training (PACT), the program provides the opportunity to learn the construction trades through a combination of academic learning and handson experience. PACT graduates emerge from the program highly skilled, certified and in demand by businesses in the construction industry that are seeking qualified workers. What’s more, students are trained in the multiplicity of jobs and careers in the construction industry, which increases their marketability and employment options. The program helps transitioning military and veterans achieve economic self-sufficiency and offers opportunities for lifelong learning and graduated earning potential.
The program uniquely supports transitioning military and veterans at every stage of the employment continuum— successfully connecting, assessing, training, certifying, placing them in high-growth construction careers, and charting participant progress for a minimum of one year.
The Veterans’ Council The HBI Veterans Program is currently inviting individuals, corporations and foundations to serve as members of the HBI Veterans Council. By joining this premier group of sponsors, you or your organization will enable HBI to expand its highly successful Veterans
The HBI Veterans Program, which started in 2012, empowers our nation’s veterans with the skills and experience they need to secure meaningful careers in the construction industry. In 2015, the program expanded to include soon-toseparate military personnel. HBI launched the program at Fort Stewart Army Base in Georgia with partners, the Bob Woodruff Foundation and Soldier for Life. Students are active duty service members within six months of separation.
Program into numerous markets nationwide, reaching and serving our nation’s most deserving population. The Veterans Council is vital to workforce readiness, job placement and career building program and how it is serving our veterans and soon-toseparate military personnel. For full article, click here.
Upcoming Events December 17 HBA Connect Holiday Party @ Stardust Aces Lounge @ 5:30pm Click here to register. January 10, 2019 Lunch & Learn: MIOSHA Record Keeping Requirements @ HBAS @ 12pm Click here to register. January 14-23, 2019 60-Hour Builders Course @ HBAS @ 8am-5pm Click here to register. January 25. 2019 MIOSHA Office Hours @ HBAS @ 9am-1pm .January 28, 2019 General Membership Meeting Details TBD
Thank You for Renewing in November! • • • • • • • • • • • •
Associated Builders & Contractors B-Dry Systems of Michigan Bay Farm Services Belden Brick & Supply Buchinger Roofing Eikenhout Eurich Home Improvement GW Heating & Air Conditioning* Greater Michigan Construction Academy Kloha Contracting The Maytag Store MDS Contracting
Recruit a Member & Win!
• Pistro Builders* • SAW Construction Contracting • Schauman Rentals • Scherzer Builders • Winterstein Builders • Yeo & Yeo CPAs & Business Consultants*
*Denotes Premier Members
We’re in the middle of a membership contest. Until December, you will compete with the Board of Directors to see who can recruit the most new members. For every new sign-up, you’ll get a GOLD STAR, $20 added to the grand prize, and an entry. If we meet our 5% growth goal, we’ll draw a winner, and give the best recruit a special prize.
What You Should Be Asking Every Client Studies may be valuable, but the best information will come from the clients themselves. It seems like every few months a new study comes out showing that more and more homeowners rely on online reviews over personal referrals when selecting a contractor. Not surprisingly, the percentages are affected by the age of the respondent— the younger the person surveyed, the more likely they are to name reviews as their most trusted source. One study even reported that 34% of 18–24-year olds will believe a review they read on Google over a friend or family member standing in their living room. I’ve repeated that stat many times, and heard others cite it as well. The theory is that we’re transitioning to a world where online resources will slowly surpass personal networks. We’ve reported the results of another such survey, and seeing the findings made me start thinking about all of those studies more deeply. I believe the data is accurate—we have become a culture that uses technology to make home improvement decisions. Yet that research doesn’t give the whole picture. The surveys I’ve seen had
questions like, “Which source of information about contractors do you trust the most?” But in reality, consumers’ trust is based on a number of factors often blended in ways that homeowners don’t even consciously realize. Say my neighbor is remodeling her house. The crews look professional and hard working, and I notice the jobsite is clean. I ask my neighbor if she’s happy with the company, and she says they’re great. I check reviews, all positive, and end up hiring them for my own project. Is my “trust” a result of personal impressions, her recommendation, or the reviews? In reality, it’s a blend. To that end, a referral, no matter how positive, won’t generally overcome a slew of bad reviews. And five stars on Yelp will quickly lose meaning if someone you trust says, “Don’t go near that company.” It’s also worth noting that when it comes to this type of survey data, the stakes are high. Many online referral platforms view word-of-mouth as an actual competitor. HomeAdvisor, for example, launched a $100 million ad campaign designed
to expose the “shortfalls” of word-of-mouth referrals, and “demonstrate a better way.” Studies are valuable, yes, but the best information will come from clients themselves. If you aren’t already, try asking the following questions after every job: 1. Where did you first learn about us? 2. How did you research our company? 3. How much did what you learned influence your decision? 4. Why did you decide to hire us? The answers to those questions will help reveal the most productive areas for marketing, both paid and free. It will also provide valuable insights to help increase your close rate. Studies are crucial to the industry, but the best data comes from evidence-based research taken from your own business. The first is like a expertly drawn sketch. The second is the 3-D rendering. Erika Taylor is the director of content for Professional Remodeler Magazine. Contact her at etaylor@sgcmail.com (link sends e-mail) or 972.803.4014. For full article, click here.
Make the Most of Pre-IBS Education Would you like to learn how to better manage your company, discover the latest techniques in high-performance building, or work toward an NAHB professional designation? Then take advantage of NAHB’s Pre-Show Education offerings, taught Feb. 16-18, just before the NAHB International Builders’ Show begins.
Study Looks at NonMetro Areas Of the 848,000 single-family homes started in 2017, roughly 79,000 were non-metropolitan – that is, they were built outside of one of the officiallydefined metropolitan areas. This is one finding of a special study from NAHB Economics looking at characteristics of newly built non-metropolitan homes. Other highlights
include: The 79,000 non-metropolitan single-family starts in 2017 is a 40% increase from 2011, compared to 97% for singlefamily starts overall. The average size of a singlefamily home built in the nonmetropolitan part of the U.S. was 2,148 square feet in 2017, compared to 2,639 square feet
inside metropolitan areas. The average price of a singlefamily home built for sale in the non-metropolitan part of the U.S. was $245,552, about a third less than in metropolitan areas. Over 16% of single-family homes built in nonmetropolitan areas are purchased for cash (compared to less than 9% inside metropolitan areas). Click here for full article.
Golf Outing Presented By When Cost
August 9, 2019 | 9am Shotgun Start Twin Oaks Golf Club | 6710 W. Freeland Rd.
Where
$250 per foursome | $65 single golfer | $15 non-golfer dinner pass $50 Shenanigans Pass
Includes Poker Run buy-in, mulligan, & forward tee for each member of your foursome.
Sponsorships Available!
CLICK HERE FOR DETAILS
High Demand for New Trades Workers Detroit is aiming to encourage students and adults to join the skilled trades industry. Octavous Crosby, 36, has been on an upward trajectory with a steady paycheck — and no student loan debt — since entering the construction trades nearly two decades ago. “It’s not a job for me. When I come to work every day, I enjoy it,” said Crosby, who graduated from the Detroit vocational high school, Randolph Career Technical Center. Detroit-based Bedrock is encouraging more area residents to pursue similar careers in the construction trades to help alleviate a local
labor shortage as the real estate firm ramps up work on three major building projects in the city. Bedrock has teamed up with Barton Malow and Turner Construction to hold a construction trades job expo at Cobo Center. The expo is aimed at expanding the size of the local construction workforce because there is a shortage of skilled trades workers in metro Detroit, according to Dannis Mitchell, Barton Malow’s community engagement manager.
“Our industry is still experiencing the shortage,” Mitchell said. “A lot of the baby boomers are now aging out, and unfortunately our industry did not do the most stellar job in training people to backfill those jobs.” One reason for the shortage was past decisions by high schools to de-emphasize the skilled trades as a career path. Some schools even shuttered their vocational programs and shop classes. Because Michigan’s current shortage of skilled trades workers is so acute, the next economic downturn shouldn’t be devastating for those who are just now getting into those careers, said Binke, the construction recruitment firm CEO. Click here for full article from the Detroit Free Press.
Empowering Women Through Leadership Education Community Networking
WB
Professional Women in Building
The PWB Mission
Join Today
Live to Work, Not Work to Live
The Professoinal Women in Building Council is the voice of women in the Building Industry; dedicated to promoting Industry professionalism, and supporting members at the local, state, and national levels. Through education, professional development, and networking opportunities, PWB helps members acquire and develop invaluable leadership and business management skills that boost career success.
Why?
Council members are educators - helping the public understand that a skilled trades life is a good life fulfilling, enriching, and successful. Council members are leaders - working hard to change the stigma of trades while providing unique opportunities for women, and mentoring the future leaders of our Industry. Council members are problem-solvers finding creative solutions to Industry issues, such as diversity and inclusivity.
PWB dreams of a better tomorrow, and tries to make that happen through community support and student education. PWB wants see other women succeed in life, giving them the opportunity to be influencial and powerful leaders. This is a Council of strong women and men looking to do good in the world around them for the simple joy of doing so - without a "what's in it for me" mentality. We can build a better, more successful future together. If PWB sounds like the place for you, please contact us to get started.
hbas.org • •
Pam Barnes, President, PWB Council pam.barnes@bldr.com | 989.695.5393
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Nicole Schultz, Vice President, PWB Council
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Bridget Sadenwater, Secretary/Treasurer, PWB Council bsadenwater@gmca.edu | 989.832.8879
Meet Your Professional Women in Building Council Michele Bueker of Bueker Development embodies nature, grace, and passion in her life and business. of Quality Assurance for the drive axle business at Saginaw Division in Buena Vista, a career she thought she loved more than anything – until she met John Bueker.
It seems that Michele Bueker was destined to be amazing. As a curious and exploratory child, she was fascinated by bringing drawings to life and seeing how they incorporated into the world around her. When she asked for a doll house at age eleven, Michele’s father helped her to build her own – teaching her about power tools, measuring, and how it all comes together. With a wonderful support system behind her, Michele grew to have strong morals, and rarely took “no” for an answer. While she was in college, Michele interviewed to join the metal forming engineers at GM, and she got the job – the first woman to do so at the company. Eventually she made a career as Superintendent
John Bueker began Bueker Development in 1992 – the same year Michele and John were married. John brought with him a family of his own – four children, and later, ten grandchildren. In 1998, Michele became Vice President at Bueker Development. With her wonder of nature and the world around her, along with her passion for her work, it’s no surprise that Michele’s motto is a quote by Albert Einstein: “There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.” Through the years, Michele and John gifted Michigan with their “Total Living Environments” – communities built in natural surroundings that bring encompass vibrancy, calm, and harmony to an otherwise notso tranquil world. Faced with the loss of her beloved husband, John, Michele has fully committed herself to Bueker Development in John’s memory. Building spaces of comfort and joy is her passion.
Through her friends and connections, Michele learned about the HBA Saginaw’s Parade of Homes, networking events, and sharing of industry knowledge. Impressed by what she saw, Michele joined the Association. She was recruited by Sue Bailey to the Professional Women in Building Council, networking with women of similar work and values. “People are our greatest asset for learning, growth, new ideas and lessons in compassion. Without people, there is little need for passion in our work,” says Michele about the best reason for being involved with the PWB. “We give and take from each other in a supportive way that nurtures an environment for women to succeed,” she says. Michele’s goal for Professional Women in Building is the same as her own goal – to be stellar, and to be mindfully elegant in all we do. Michele lives in Manistee, though her work spans statewide. Her daily commutes, are her chance to take pleasure in the beauty of Michigan, and with every new project comes new friends, adventure, and the opportunity to grow both personally and professionally. When time allows, Michele spends her time at her beautiful lakeside home with the company of her chocolate lab, where they commune with nature and play fetch as often as possible. She looks forward to every new day, and every new adventure. For Michele, her life is truly a miracle, and she lives each day as a gift in her life.
Mental Health in Construction: The Ugly Truth
Did you know that working in construction you are six times more likely to die from suicide than from a fall from a height?
Click here for the full article from GenieBelt UK.
This holiday season, take the time to check your own well-being. Now is the time to be as passionate about your mental health as you are about your work.
That is a statistic that “The Construction Industry Helpline”, an organization to help those in the construction industry on a variety of topics, CEO Bill Hill has discovered. A quick search of “mental health in construction” and can you see countless construction related articles showing the
heartbreaking statistics of workers who have either taken their lives or considered it. Construction has one of the highest risks of suicide amongst its employees but they aren’t taking the statistics lying down, they are starting to fight back. The “why?” Why is construction, already a sometimes-dangerous job, such a target for depression & suicide? Construction jobs are still addressing predominantly
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Mental Health Cont. to young males. Suicide is the second leading cause of death for men in the United States between the ages of 25 and 54. Men in high stakes and high skill occupations are almost 1.5 times more likely to die by suicide, according to an article by Forbes. How do the signs go unnoticed? There’s a “tough guy” stigma in construction so asking for help is not something that comes natural to those working these
“...Men don’t talk about this stuff at all. One of the big things we need to do is to make it safe for people to talk about mental health.” - Bam Nuttall CEO Steve Fox
EVOLVE
Want Creative Services? Terese DiMercurio, Exec. Asst. tdimercurio@hbas.org Ph. 989.793.1120 hbas.org
jobs. Seasonal jobs, long hours, long commutes, time away from family and exhaustion are just a few of the conditions that can trigger a mental health illness. These triggers, however, are sometimes every day factors for construction workers.
bigger leaps. Create an open dialogue, be aware of any changes in your coworkers and don’t be afraid to speak up! Take that “all for one” attitude found on the job site & apply it to helping your fellow team members.
The stigma surrounding mental health isn’t just an issue in construction; it is a worldwide stigma. This mentality of keeping mental illness a secret needs to be stopped considering the fact that the World Health Organization is predicting depression to be the world’s second biggest health problem by 2020.
Get educated! There’s a wealth of helpful resources online that give you skills to address mental illness in the construction industry and within your own team.
How can you be aware & help? First thing you can do to help your crew is break the stigma. Small steps eventually lead to
Mates in Mind Backed by Health in Construction Leadership Group & the British Safety Council, MiM helps improve mental health awareness, education and suicide prevention across job sites & construction companies the UK.
FHFA Announces Higher Loan Limits Freddie, Fannie, raise conforming loan limits for 2019. The Federal Housing Finance Agency announced recently that the maximum baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2019 will increase from $453,100 to $484,350. The loan limit will rise 6.9% in 2019 because FHFA has determined that the average U.S. home value increased 6.9%
between the third quarters of 2017 and 2018. Higher loan limits will be in effect in higher-cost areas as well, rising from $679,650 to $726,525. Click here for full article.
MIOSHA at HBAS Tarah Kile with MIOSHA will have special office hours at HBA Saginaw during 2019. She will be available to assist with questions, concerns, safety manuals, and more.
Marc
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JANUARY OFFICE HOURS Jan. 25 from 9am until 1pm.
Home & Garden Show SPONSORED BY
WHY EXHIBIT? The Home Builders Association of Saginaw Home & Garden Show is the largest expo of its’ kind north of Detroit. With over 5,000 people in attendance in a single weekend, you’re sure to meet new and potential clients, sell product, and get engaged with the community. Don’t let the great opportunity pass you by.
CLICK HERE TO REGISTER TODAY
Out with the old, in with the new...
We’re always looking for ways to make the Home & Garden Show even better. Instead of the Home Show Journal, we are offering exclusive advertising in our NEW Insider Value Guide. This booklet will be “a resource for exclusive exhibitor information and savings” for guests at the Show. Whether you’d like to place an ad, offer a discount or have a coupon, it’s up to you! Also new this year, we’re offering several great sponsorship opportunities! Be a part of the best event yet by supporting the Show. AND! Back by popular demand we will be featuring four fantastic food vendors in our Refreshment Corner. Some Show features were too good not to have back!
Roughly 13% Plan to Buy a New Home in 2019 Prospective first-time buyers include Millennials, GenXers, and Baby Boomers Only 13% of adults are planning to buy a home in the next 12 months, according to NAHB’s Housing Trends Report for the third quarter of 2018. Most of these prospective buyers (58%) report this is the first time in their lives they would be buying a home. The younger people are, the more likely they are to be interested in purchasing a home. The data shows that 19% of millennials have plans to purchase a home in the
next year, with the percentage falling to 13% among the Gen Xers, 7% for the baby boomers and a scant 3% for seniors. These results are not surprising, given that mobility rates decline significantly with age. According to the Census Bureau’s 2017 Current Population Survey, 18% of those under 40 years of age moved in the previous year, compared to 9% in the 40-49 age range, 6% of people aged 50-69, and 3% who were 70 or older.
Builders Report Lot Shortages A shortage of buildable lots in desirable locations translates to higher prices. In a recent NAHB survey, 65 percent of builders reported that the overall supply of developed lots in their areas was low to very low. This is up only one percent from June 2017, but significantly higher than the 42 percent posted in September 2012. The survey consisted of special questions appended to the instrument for the NAHB/Wells Fargo Housing Market Index (HMI) in
September 2018. Sixty-five percent is the largest low supply percentage recorded since NAHB began periodically asking the question in the HMI survey in 1997. The 65 percent includes 43 percent who characterized the supply of lots simply as low and 22 percent who said the supply of lots was very low. The lot supply problem is particularly severe in relation to housing starts, which still
The Housing Trends Report is a research product created by the NAHB Economics team to track changes in buyers’ perceptions over time. The data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult.
have only partially recovered from the last downturn. After averaging 1.5 million from 1960-2007 and hitting a peak of 2.0 million in 2005, starts have recovered only to about 1.2 million a year. The continued low supply of developed lots is a hindrance to a fuller housing recovery, and helps explain some of the recent weakness in new home sales. The continued low supply of developed lots is a hindrance to a fuller housing recovery. Click here for full report.
