HBAGC May 2024 Newletter

May 2024 NAHB recently released its NAHB/ Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2024, posting a reading of 66, down one point compared to the previous quarter. The NAHB/ Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The overall RMI is calculated by averaging the three components of the Current Conditions Index and the two components of the Future Indicators Index. The Current Conditions Index averaged 74. The Future Indicators Index averaged 59. a scale from 0 to 100. where an index number above 50 indicates that a higher share view conditions as good than poor. The overall RMI is calculated by averaging the three components of the Current Conditions Index and the two components of the Future Indicators Index. The Current Conditions Index averaged 74. The Future Indicators Index averaged 59. Remodeling Market Sentiment Remains Positive in Q1 NAHB recently released its NAHB/ Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2024, posting a reading of 66, down one point compared to the previous quarter. The NAHB/ Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on DOE Issues Decarbonization Plan The U.S. Department of Energy has released a blueprint for decarbonizing buildings, including homes. The goal of the plan is to reduce carbon emissions from buildings 90% by 2050 compared with the 2005 baseline, with an interim goal of a 65% reduction by 2035. Although the blueprint was created in consultation with other federal agencies and includes many state, local and federal policy ideas, it is a non-binding document that does not make specific regulatory proposals. DOE Heeds NAHB Concerns In Final Transformer Rule The Department of Energy’s (DOE) newly issued final energy efficiency rule for distribution transformers explicitly heeds NAHB’s call to ensure that it would not impede the production of badly needed trans- formers. DOE’s original rule would have effectively required all distribution transformers to shift from the industry standard grain- oriented electrical steel (GOES) cores to amorphous steel cores and marginally increased energy efficiency standards for transform- ers. DOE significantly amended the final rule to ensure that 75% of transformers can continue to use the industry’s standard GOES cores.  Plan to Take Part in NAHB’s Legislative Conference Make plans to participate in NAHB’s 2024 Legislative Conference on Wednesday, June 12 in Washington, D.C. The meetings, held on Capitol Hill, are a critical part of NAHB's efforts to make sure lawmakers understand the home builders’ perspective on key issues. The Legislative Conference will be conducted in conjunction with NAHB’s Spring Leadership Meetings, June 11-14. The day begins at the Marriott Marquis with a briefing on key issues. NAHB will provide bus transportation between the Marriott Marquis and Capitol Hill. Legal Victory on Impact Fees The U.S. Supreme Court in April handed down a unanimous ruing that California home owners, builders and developers may challenge improper local impact fees for housing development even if the fees are authorized by legislation. The decision in the case of Sheetz v. El Dorado County is a major victory for the home owner involved in the case as well as home builders and developers, especially in California. NAHB and the California Building Industry Association (CBIA) submitted two amicus briefs in the case supporting the home owner. Codes Mandate Harms Affordability HUD and the U.S. Department of Agriculture (USDA) announced recently that they will insure mortgages for new homes only if they are built to the 2021 International Energy Conservation Code (IECC). NAHB believes this will bring no benefit to home buyers. Studies have shown that building to the 2021 IECC can add up to $31,000 to the price of a new home and take up to 90 years for a home buyer to realize a payback on the added cost of the home. Andrew Bane, Sherwin Williams Tim McDaniel, SERVEPRO Cathy Rollyson, Paving Solutions Tara Sowards, Landscaping by Hillcrest Jamie Burch is the new Exeutive Officer of Home Builders Association of West Virginia. She is available at 304.342.5176 or info@hbawv.org. Sandy Dunn, B J Builders in Point Pleasant, presented a campaign donation to Congresswoman Carol Miller. She was joined by BUILD-Pac members Welford Haines, John Kopyscianski and Matt Aldridge. 2024 marks 15 years as owner of Mr. Handyman of Kanawha Valley AND 14 years as HBAGC member. Greg is past president and an active life director. With wife & partner Nancy and son Travis. It's a family venture. Greg Paxton 304.720.0519 gpaxton@gmail.com HBAGC Member Spotlight HBAGC Member Thank you Nickie and Crissy Another great mixer . . . Upcoming Events June 13 Membership Bowling River Alley July 16 HBAGC Board Meeting August 20 Membership Mixer WesBanco September 17 HBAGC Board Meeting September 23 HBAGC Golf Tournament Sleepy Hollow Golf Club October 4 HBAGC Cruise-in Builders FirstSource November 5 HBAGC Membership Dinner Election of Officers Holiday Inn & Suites South Charleston November 19 HBAGC Board Meeting December 10 HBAGC Christmas Party Ferguson 2024 Board of Directors Officers President - Welford Haines* Ferguson Enterprises Vice President - Zach Crede Crede Lawn & Landscaping Associate Vice President - Matt Aldridge* IKO Industries Treasurer - Jason Staats* Rollins, Cleavenger & Rollins CPAs Secretary - Barbara Rucker Summit Community Bank Builder Member-at-Large - John Lee Secure Construction Immediate Past President - Bob Ritenour* Bob's Basic System Directors Brad Cunic House Doctors Tim Cunningham* Cunningham Electrical Service Robert Dorsey* L.R. Dorsey Inc. Jack Grimm Garlow Insurance Cindy Hale* Nitro Carpet Outlet & Design Center Roger Harper 84 Lumber Shannon Hudnall Truist John Kopyscianski* Builders FirstSource Connie Marshall* Encova Insurance Steve Michael* Quality Construction Michael Moore Elk River Design Dale Oxley* Modern Home Concepts Greg Paxton* Mr. Handyman of Kanawha Valley Stephanie Ramsey TTLC Merchant Solutions J.D. Stricklen* Stricklen Realty Steve Zubrzycki East Coast Tees *Life Director Donna Crotty, Executive Officer Consider hosting an event 2025. Now is the time to schedule your date. Highest Paid Occupations in Construction Trades Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics and analysis by NAHB. In comparison, the U.S. median wage is $48,060, while the top 25% makes at least $76,980. Among construction trades, elevator installers and repairers top the list, with half of them earning over $103,340 a year, and the top 25% making at least $129,090. First-line supervisors of construction trades are next on the list with median salaries of $76,960, with the top 25% highest paid supervisors earning more than $97,500.