Volunteer with your HBA and Rebuild Upstate partner to help a 78-year old widow

Your Home Builders Association and Rebuild Upstate will team up later this month to repair a deck that is the primary entrance for a 78-year-old widow in Easley.  Please consider volunteering.

Needed are 8-10 volunteers to perform the work.  Andrew Woodford of ABW Construction will supervise the project.

• Saturday, September 30
• 8:30 a.m. until 4 p.m.

Volunteers should wear closed-toe shoes and dress appropriately to perform construction work.  The HBA will provide lunch and have water and sodas on hand.

To volunteer and for additional details, simply email Michael Dey at mdey@hbaofgreenville.com.  

Governor McMaster proclaims October Careers in Construction Month

Governor Henry McMaster

Governor Henry McMaster has proclaimed October Careers in Construction Month.  In his proclamation, Governor McMaster states:

• South Carolina has nearly 60,000 vacancies in construction jobs
• South Carolina has los 26.8 percent of residential construction jobs
• 82 percent of construction companies regularly have jobs they are unable to fill
• 24,000 new construction workers are needed to meet South Carolina's current building needs

U.S. house prices rise 1.6 percent in second quarter

U.S. house prices rose 1.6 percent in the second quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.6 percent from the second quarter of 2016 to the second quarter of 2017. FHFA's seasonally adjusted monthly index for June was up 0.1 percent from May.

The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. FHFA has produced a video of highlights for this quarter.

"U.S. house prices rose in most states during the second quarter," said FHFA Senior Economist William Doerner. "New home sales are climbing but, relative to the overall population, they still remain low from a historical perspective. The tight inventory is a major explanation for why house prices have been increasing every quarter over the last six years."

Significant Findings

• Home prices rose in 48 states and the District of Columbia between the second quarter of 2016 and the second quarter of 2017. The top five states in annual appreciation were: 1) Washington 12.4 percent; 2) Colorado 10.4 percent; 3) Idaho 10.3 percent; 4) Florida 9.4 percent; and 5) Utah 9.2 percent.
• Among the 100 largest metropolitan areas in the U.S., annual price increases were greatest in the Seattle-Bellevue-Everett, WA (MSAD), where prices increased by 15.7 percent. Prices were weakest in New Haven-Milford, CT, where they rose by 0.1 percent.
• Of the nine census divisions, the Pacific division experienced the strongest increase in the second quarter, posting a 2.6 percent quarterly increase and a 8.9 percent increase since the second quarter of last year. House price appreciation was weakest in the Middle Atlantic division, where prices rose 0.8 percent from the last quarter. 

In South Carolina, house prices rose 6.3 percent year-over-year.  In Greenville, prices rose 4.7 percent, but fell 1 percent from the first quarter to the second quarter.

Thank a Framer Event September 28

Norbord and Builders First Source will host a "Thank a Framer" event later this month.  Here are the details:

• Thursday, September 28
• 11 a.m. until 1 p.m.
• Lunch is provided
• at Builders First Source, 259 Access Road, Spartanburg

You will also learn how Norbord and Home Builders Institute, an affiliate of the National Association of Home Builders, have teamed up to train more skilled workers in the construction trades.

#ThankAFramer
ThankAFramer.com

The Headlines September 8, 2017

Ten Home Building industry stories we have read recently:

• US home prices surge in June, led by Seattle.  AP.
• A temporary Band-Aid on labor shortages.  NAHBNow.
• Ditching Digital Distractions.  REALTORMag.
• HUD report shows housing affordability crisis is worsening.  NAHBNow.
• The housing collapse hit minorities hardest — and the impact is still being felt across America.  Business Insider.
• Almost 80,000 starts last year were tear-downs (23,800 in the South).  NAHBNow.
• Diverse millennial population could change housing as we know it.  Housingwire.
• Four major U.S. cities ring housing bubble alarm.  CNBC.
• High prices and student loans put housing out of reach, readers say.  Los Angles Times.
• Builders report labor shortages on the rise.  NAHBNow.
  

September 8, 2017.

Last call, final deadline to complete claims for HBA Rebates

HBA Members:

The deadline to submit your claims for rebates from manufacturers through HBA Rebates is September 13.  Don't miss this important deadline to recoup money you have already spent on your recent projects.

Submit your claims by clicking here.

Congress extends flood insurance program for three months

With a September 30 deadline looming, Congress has approved a broad package that will keep the government funded until December 8, provide roughly $15 billion in disaster relief from Hurricane Harvey, and raise the debt ceiling, which sets a limit on the amount of money the federal government can borrow.

The government funding package also means that the National Flood Insurance Program (NFIP), which was set to expire on September 30, will be extended until December 8.

The National Association of Home Builders continues to work with Congress to achieve a long-term reauthorization of the NFIP that will keep the program fiscally sound and let builders provide safe and affordable housing.