THANK YOU, NORBORD !
LOYAL SUPPORTERS OF THE HBA OF SPARTANBURG
AND THE BUILDING INDUSTRY
Average New Home Uses 24 Subcontractors
Roughly 69% of home builders use between 11 and 30 subcontractors to build the typical single-family home. The average is 24 different subcontractors per home, according to responses to a set of special questions in a recent survey conducted as part of the monthly NAHB/Wells Fargo Housing Market Index.
At least 95 percent of builders said they always subcontracted five different jobs: HVAC (97 percent), electrical wiring and plumbing (96 percent each), and carpeting and security systems (95 percent each).
Do Business With
an NAHB Member
NAHB has begun a broad campaign to encourage everyone in the federation to “Do Business with an NAHB Member.” The effort seeks to foster cross-functional relationships among Builder, Associate and Affiliate members. More members working together means more opportunities across the home building industry and the NAHB Federation. NAHB has developed logos and banner ads that members and HBAs can use on their websites and in social media.
NAHB Calls for COVID Safety Stand Down
NAHB encourages members and all other residential construction companies to halt work for at least 10 min- utes the week of Jan. 11-15, for a COVID-19 Jobsite Safety Stand Down to remind workers what they should do to keep themselves safe from coronavirus and to help reduce its spread. Precautions include wearing face cover- ings, maintaining a distance of at least six feet, and cleaning and sanitizing frequently used tools and surfaces.
CFPB Issues Final Qualified Mortgage Rules
The Consumer Financial Protection Bureau has issued two final rules related to qualified mortgage (QM) loans. The General QM Final Rule replaces the current requirement for General QM loans that the consumer’s debt-to-income ratio (DTI) not exceed 43%, with a limit based on the loan’s pricing. The second rule creates a new category for QMs – Seasoned QMs.
In adopting a price-based approach to replace the spe- cific DTI limit for General QM loans, the CFPB deter- mined that a loan’s price is a strong indicator of a con- sumer’s ability to repay and is a more holistic measure of a consumer’s ability to repay than DTI alone.
U.S. Lowers Duties on Canadian Lumber
A final determination of the first administrative review by the U.S. Commerce Department will reduce duties on shipments of Canadian softwood lumber into the United States from 20% to 9%. This is a step in the right direction for the lumber market, which has seen significant price volatility over the last year.
NAHB encourages U.S. trade officials to work with Canada to end the tariffs and achieve a long-term, stable solution in lumber trade.
Take Advantage of IBSx Education Sessions
Housing Starts Flat in November
Single-family starts flattened in November as builders struggled to meet demand, while overall housing starts increased 1.2% to a seasonally adjusted annual rate of 1.55 million units, according to a report from HUD and the U.S. Census Bureau.
The November reading of 1.55 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 0.4% to a 1.19 million seasonally adjusted annual rate. The multifamily sector, which includes apartments and condos, increased 4.0% to a 361,000 pace.
On a year-to-date basis, combined single-family and multifamily starts are 14.4% higher in the Midwest, 7.6% higher in the South, 5.4% higher in the West and 3.3% lower in the Northeast.
Dynamic, in-depth education sessions – a hallmark of the traditional International Builders’ Show – will continue during the IBSx Virtual Experience, Feb. 9-12, 2021. From the convenience of your computer, you can expect to learn about best practices and solutions and hear insights from some of home building’s top experts.
With more than 100 education sessions in nine industry tracks, you’ll access fresh strategies, trends and solutions for beginners and experienced professionals. Education sessions are accessible when you purchase an All Access pass.
The industry tracks include: Architecture & Design; Building Techniques & Strategies; Business Management; Custom Building & Remodeling; Land Development & Community Design; Multifamily Housing; Project Management; Research & Trends; and Sales & Marketing;
Education content will be available in live and semi-live sessions, as well as on demand. The on-demand content will be available for viewing during the four-day show through March 31, 2021.
Learn more IBSx education sessions and register at BuilderShow.com.
State of the Nation's Housing
Although housing has generally been a bright spot in the midst of the pandemic, the Harvard University’s Joint Center for Housing Studies recent report, “The State of the Nation’s Housing 2020,” shines a spotlight on key areas for improvement, especially the lack of an adequate supply of new housing.
The report noted that the supply of existing homes was at its lowest level since 1982. Tightened supply and strong demand has led to increased home prices, with prices rising 5.7% year over year in September.
The greater impact on low-income house- holds is also reflected in the rental market. According to the report, 37.1 million households, or 30%, were cost burdened in 2019, with 17.6 million (14%) identified as severely cost burdened (spending more than 50% of their incomes on housing).
Calendar of Events
January Board Meeting. Monday, January 11. 11:45
January Meeting and Oyster Roast. Tues. Jan. 19 . 5:30 - 8:00. Cherokee Sportmans Club. Register by Jan. 14
April Golf Tournament
Tuesday , April 13 woodfin Ridge
OTHER MEETINGS AND EVENTS WILL BE ANNOUNCED AS WE ARE ABLE TO PLAN WHILE CONSIDERING COVID 19 RECOMMENDATIONS
THANKS FOR YOUR PATIENCE!
2021 HBA BOARD OF DIRECTORS
BUILDER BOARD MEMBERS
ASSOCIATE BOARD MEMBERS
A $900 billion economic relief package approved by the House and Senate on Dec. 21 includes key provisions that NAHB championed. President Trump signed the measure into law six days later on Sunday, Dec. 27.
NAHB worked closely with Democratic and Republican congressional leaders to ensure the recovery legislation addresses three major builder concerns:
• Provides relief for small businesses
from burdensome loan forgiveness
• Helps struggling renters and landlords
with dedicated rental assistance.
• Assists HBAs that have largely been
excluded from previous relief measures.
The final package covers these three areas and contains several other policy objectives that NAHB has championed, including a permanent minimum 4% credit floor on low-income housing tax credits that will allow multifamily developers to finance thousands of additional affordable rental units and an extension of temporary tax provisions for newly-built energy-efficient homes and for home owners who engage in remodeling activities.
The legislation also includes other important provisions that:
• Extend all pandemic unemployment
benefits expiring at the end of
December through March 14, 2021.
• Extend weekly enhanced federal
unemployment payments (paid out on
top of regular UI benefits) of $300 per
week through March 14, 2021.
• Provide a direct payment of $600 to
View further analysis on the following areas of the $900 billion rescue package:
Paycheck Protection Program
Latest Stimulus Package Contains Key Provisions for Housing
Single-family builder sentiment fell back to a level of 86 in December, according to the NAHB/Wells Fargo Housing Market Index (HMI), after achieving an all-time high of 90 in November. The dip was due to growing concerns over housing affordability in 2021. However, December’s HMI was still the second highest on record.
Supply-side pressures, such as resurgent lumber prices, limited lot supplies, supply-chain issues, and a persistent skilled labor deficit foreshadow higher costs and longer build times heading into next year. Moreover, on the demand side of the housing market, limited inventories of single-family homes have generated strong price gains in 2020.
The deployment of a vaccine, while representing good news for the overall economy, will place upward pressure on interest rates. In turn, the combination of higher prices and rising rates will price some households out of the housing market next year.
The NAHB forecast is for ongoing gains for single-family construction in 2021, though at a slower growth rate than in 2020. Remodeling will remain strong as people continue to upgrade existing homes. The multifamily construction market will experience weakness as rent growth slows and vacancy rates rise. However, the development market should stabilize by 2022.
Forecast for Home Building in 2021 Remains Solid
KEEP YOUR JOB SITE SAFE
DO BUSINESS WITH THESE NEW MEMBERS!
Bill Hamilton, Cannon Roofing
Randy Settle, Yaupon Development
Russ Taylor, Taylor Pallets and Recycling
DO BUSINESS WITH THESE RENEWING MEMBERS !
Sammy Sanders, Century Concrete
Garrett Boulware, American Concrete and Construction
Len Reed, Len Reed Construction
Parker Champion, Parker Champion Construction
Tom Leopard, Bradshaw Automotive
Slavik Cholak, Adrian B. Homes
Mark Patterson, Patterson Developers
Jay Beeson, Mark III
Joel Shropshire, Gateway Supply
Calvin Snow, CVS Builders
Ryan Kaiser, Enchanted Construction
Michael Greene, Piedmont Concrete Products
FIND CONTACT INFORMATION FOR MEMBERS HERE
Spartanburg County Council District 6
Primary and Special Election
Primary : January 19
Run off : February 2
Election: March 23
Spartanburg Association of Realtors
Monthly Indicators for November
CLICK HERE /
Spartanburg County Building Codes Department
Monthly Permit Report for Nov.
Spartanburg County Planning Department
Monthly Subdivision and Land Use Report for August
Market Trends Report
Report as of 9-30-20
S.C Business License Tax Reform Legislation >
Member Rebate Program
By using any of the 5o+ manufacturers , you will be able to participate in the Member Rebate Program. Builders and Remodelers , no matter how large or how small, qualify for the program. When you participate in the program, you can count on receiving checks every quarter!
RECEIVE MONEY BACK FOR PRODUCTS THAT YOU ALREADY USE!
$1,472.55 SAVINGS PER MEMBER LAST QUARTER
PROGRAM IS ONLY AVAILABLE TO CURRENT HBASC MEMBERS
MARY SPEED'S LATEST
FOR INFORMATION JUNKIES
Click Here for John's ideas on where housing is heading in the next few months
GEORGE SPENCER WYANT, JR
FEBRUARY 20, 1956
.JANUARY 21, 2021
George, Jr. and his father, George, Sr. were both long term and committed members of the HBA of Spartanburg. Between the two of them, they held just about every leadership position imanginable They were committed to their craft and to the health and well being of the home building industry.
341 East Kennedy Street
Spartanburg, SC 29302
MEMBERS! PLEASE TAKE ADVANTAGE OF
MEMBER SAVINGS AND BENEFITS
CHECK THE ONLINE INFORMATION
AND SIGN UP TODAY!
HBA OF SC MEMBER BENEFITS INCLUDING SNAZZY TRAVEL