August 2022
Single-Family Starts Fall to Two-Year Low
Increased interest rates, building material supply chain bottlenecks and elevated construction costs continue to put a damper on the single-family housing market. For the first time since June 2020, both single-family starts and permits fell below a 1 million annual pace. Overall housing starts fell 2.0% to a seasonally adjusted annual rate of 1.56 million units in June from an upwardly revised reading the previous month, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The June reading of 1.56 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 decreased 8.1% to a 982,000 seasonally adjusted annual rate. This is the lowest single-family starts pace since June 2020. The multifamily sector, which includes apartment buildings and condos, increased 10.3% to an annualized 577,000 pace. On a regional and year-to-date basis, combined single-family and multifamily starts are 4.4% lower in the Northeast, 4.7% higher in the Midwest, 11.1% higher in the South and 0.4% lower in the West. Overall permits decreased 0.6% to a 1.69 million unit annualized rate in June. Single-family permits decreased 8.0% to a 967,000 unit rate. Multifamily permits increased 11.5% to an annualized 718,000 pace.
HBAWV Summer Board Meeting, Canaan Valley Resort
The Home Builders Association of West Virginia (HBAWV) had it's annual summer board meeting, 29-30 July, Canaan Valley Resort & Conference Center. There were representatives from six of the seven state local associations! The event kicked off Thursday evening with North Central hosting a whiskey tasting event at the local Still Hollow Spirits Distillery. Friday morning the Presidential breakfast started a full day of meetings covering BUILD-Pac, awards, events, Associate Member council, public relations, Executive officers council, safety, membership, and finance meetings. Our guest speakers for lunch, Mr. Adams & Mr. Painter, were from the WV Department of Environmental Protection. The government affairs meeting had Mr. Woodrum, WV DOL Commissioner, as the guest speaker. The day wrapped up with a WV Build-Pac BBQ cookout event at the Pauley's cabin!
Legal Victory in Connecticut A Connecticut court decision has resulted in a win for NAHB members in the state and a blow to NIMBY opposition. NAHB last year filed an amicus brief with the Connecticut Supreme Court in the case of International Investors v. Town Plan and Zoning Commission of the Town of Fair- field. The issue in the case was whether the Town of Fairfield legally extended the time for the developer, Fairfield Commons, to complete the project. The court ruled for Fairfield Commons. It found that special permits and site plans are bound together. A town cannot condition a special permit with a due date before the statutory due date provided for site plans. The ruling maintains pre- dictability for development in the state. Connecticut.
NCWVHBA Membership Report
FHA Extends Appraisal Validity The Federal Housing Administration (FHA) recently published revised appraisal validity guidance that extends the initial appraisal validity period from 120 days to 180 days and the appraisal update validity period from 240 days to one year for Single Family Title II mortgage programs. The appraisal validity period establishes the maximum time an appraisal report may be used for an FHA-insured mortgage. These changes align FHA appraisal validity periods with industry practices, making it easier for lenders to manage appraisal validity while potentially reducing appraisal costs for mortgagees and ultimately, borrowers seeking FHA-insured mortgage financing. The guidance applies to case numbers assigned on or after June 1, 2022.
Our renewing members are the backbone of our Association... It is for that reason we would like to thank the following members for renewing: Aaron Dickerson, ALD Enterprises, LLC Johnnie Rominger, Bad Lizard Granite & Quartz Nancy Spiker, Clear Mountain Bank Randy Shaffer, Impressive Homes, LLC Christine Pauley, Key Realty Company James Saunders, Titan Roofing Rocky Simmons, Vision Homes, Inc WELCOME to our newest member(s): Doug Burch, Creek Siding & Roofing, Inc Phillip Nuce, N2 Repairs, LLC
The deadline is fast approaching to have your on-line Best of West Virginia Award packets completed! Don't miss out North Central - we know that we are the BEST of the BEST! Highlight your craftsmanship. Click here for SUBMISSION Last year's winners: Watch Video Here
BOWV Submission Deadline
NAHB Offers Cybersecurity Resources NAHB recently launched data privacy and cyber- security resources to educate members on the risks associated with the modern technology environment. Business owners need to be more proactive about identifying ways to protect their business and customer data from cyber threats. Developed with assistance from Philip R. Stein, Esq. of Bilzin Sumberg, the resources include a guide, Cybersecurity – What You Need to Know, a Cyber- security Assessment and Checklist and Sample Data Security Clauses for Vendor Contracts.
Make Plans to Attend Building Systems Summit Make plans to attend the Building Systems Housing Summit in Atlanta, Ga., Sept. 18-20, 2022. The summit is the premier conference dedicated to offsite construction and provides the opportunity to meet, learn from, and interact with prominent and influential members of the building systems industry. Top modular, panelized, concrete, log and timber home manufac- turers and builders will connect with suppliers from all over the country to network and participate in educational programs. OSHA to Emphasize Excavation Safety OSHA has announced that its inspectors and enforcement staff will "consider every available tool at the agency’s disposal” – including criminal referrals – to help stem a dramatic spike in deaths from trenching and excavation accidents. In the first half of this year, 22 workers have died in trenching accidents compared to just 15 in the entire year 2021. NAHB has a video toolbox talk builders can use to present to their workers and subcontractors, and additional resources in the NAHB Trenching and Excavation Toolkit.
Lumber Adds $14K to New Home Price Lumber prices have been volatile since April 2020, hitting record highs while also experiencing periods of substantial declines. Between April 2020 and July 2022, softwood lumber prices have increased enough to add $14,345 to the price of an average new single-family home, and $5,511 to the market value of an average new multifamily home, according to NAHB’s latest estimates. Based on July 1 Random Lengths prices, the costs have risen to $29,407 for the softwood lumber products in an average single-family home, and $10,734 for the products in an average multifamily home.
Apply Now for NAHB Awards NAHB Industry Awards are OPEN! Each year, NAHB recognizes the best of the best in our industry. Our prestigious awards celebrate, honor and recognize excellence. As an award winner, the spotlight shines on your business with year-long promotion. So, gather your photos and write descriptions of your stellar projects. Shout out your biggest accomplishments and get the recognition you deserve! Find the award program that’s right for your business and enter.
POC: Terri Boone (304) 599-0880 info@ncwvhba.org
President Chris Bailey 1st Vice-President William Burdett 2nd Vice-President Ken Downey Associate Vice-President Tom Board Secretary Terri Boone Treasurer Lisa Novak State Area Vice-President William Burdett National Delegate Kent Pauley Alt. National Delegate Chris Bailey ncwvhba.org
Calendar of Events 4 Aug 22, Board of Director's Mtg Location: Morgantown 18 Aug 22, General Membership Meeting Location: Buffalo Wild Wings, Bridgeport 1 Sept 22, Board of Director's Mtg Location: TBD 15 Sept 22, General Membership Meeting Location: TBD **SAVE THE DATE: 17 Nov 22, Annual Meeting of Memberhsip & Elections 3 Dec 22, Annual Christmas Party Location: The "O" by Oliverios, Bridgeport Entertainment: George Dorne Band
Christmas Toy Fund: Walmart Registry for Good
Leadership List
Supreme Court’s EPA Ruling Has Broad Implications
The Supreme Court’s recent decision in the case of West Virginia et al v. EPA et al could have a significant impact on federal agencies’ ability to expand regulations beyond the authority granted by Congress. The court voted 6-3 to restrict the ability of the EPA to regulate carbon emissions. Writing for the majority, Chief Justice John Roberts wrote that the EPA exceeded the authority of the Clean Air Act when it promulgated the Clean Power Plan (CPP) during the Obama administration. The decision's main relevance for NAHB is its discussion of an administrative law principle, the "major questions doctrine." The major questions doctrine holds that unless Congress clearly states its intent for a federal agency to exercise its authority to regulate an issue, courts must reject the agency's approach. The EPA will not be able to establish a similar rule affecting NAHB members through demand-side efficiency requirements. The Court's application of the major questions doctrine in this case will help NAHB and its advocacy on behalf of members in cases where an agency attempts to create new regulatory programs that depart significantly from statute.