6 Ewa Beach Residents successfully completed the PACT Program

On Thursday, August 22, 2013, 6 students successfully completed CTC's Pre-Apprenticeship Construction Training (PACT) Program.

The Hawaii Building Industry Foundation (HBIF) was awarded a grant from the Hawaii Community Foundation (HCF) Haseko Training Fund, to provide it's PACT Program for residents in the Ewa Beach community. 

The HCF PACT students completed an accelerated 6-week Pre-Apprenticeship Construction Training (PACT) program at CTC-Pacific.  Training consisted of Basic Principles for Construction, First Aid & CPR w/AED, Introduction to OSHA, Fundamentals of Green Building and Introduction to Construction Skills courses. The students also participated in a job site tour led by Larry Hawkins at Castle & Cooke Homes Hawaii's Nohona 3 project in Kapolei.

Mahalo to Hawaii Community Foundation and Haseko for a successful partnership, and a big mahalo to our education sponsor - Hawaii Energy Connection who took time out of their busy schedules to familiarize the students with their line of work.

Congratulations to:

Brandon Dalere

Makanaona Dias

Lee-J Gatewood

Kaniala Kaleo

Nikolao Paese Jr.

Alexander Ramos

View photo album here

Apartment and Condominium Market Gains Momentum in Second Quarter

NAHB Press Release

WASHINGTON, Aug. 29 - Production of apartments and condominiums gained momentum in the second quarter of 2013, according to the latest Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB). The index increased nine points to 61, which is the highest reading since its inception in 2003.

The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

The MPI provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, market-rate rental units and "for-sale" units, or condominiums. In the second quarter of 2013, the MPI component tracking builder and developer perceptions of market-rate rental properties rose six points to 67, the 11th straight quarter above 50; for-sale units had a significant increase of 16 points to 58, which is the highest reading since the second quarter of 2005; and low-rent units increased five points to 60.

"Multifamily developer confidence is currently at an all-time high according to our survey results, and we expect to see that continue for the foreseeable future," said W. Dean Henry, CEO of Legacy Partners Residential in Foster City, Calif., and chairman of NAHB's Multifamily Leadership Board. "Much of the consumer demand that we are now seeing is coming from a large generation of young people who are able to find jobs and establish their own households as the economy continues to improve."

The Multifamily Vacancy Index (MVI), which measures the multifamily housing industry's perception of vacancies, rose four points to 42. With the MVI, lower numbers indicate fewer vacancies. After peaking at 70 in the second quarter of 2009, the MVI improved consistently through 2010 and has been at a fairly moderate level since 2011.

Historically, the MPI and MVI have performed well as leading indicators of U.S. Census figures for multifamily starts and vacancy rates, providing information on likely movement in the Census figures one to three quarters in advance.

"The apartment and condo sector continues to expand production," said NAHB Chief Economist David Crowe. "This increased level of activity is needed to meet current demand and to compensate for a serious lack of new units developed during the housing downturn."

For data tables on the MPI and MVI, visit www.nahb.org/mms.

OSHA's Proposed Silica Rule Raises Concerns for Construction Industry, Says NAHB

NAHB Press Release

WASHINGTON, Aug. 28--A coalition of construction industry groups is concerned about a proposed rule from the Occupational Safety and Health Administration (OSHA) that's intended to protect workers from inhaling dust containing silica, created by activities such as cutting brick or block, and sawing, grinding or drilling concrete.

"We need practical, science-based solutions that protect workers in all facets of construction," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a builder and developer from Charlotte, N.C. "Unfortunately, OSHA's initial announcement about this proposed rule indicates we aren't there yet."

Announced Aug. 23 in a press conference that laid out few details, the proposed rule seems to call for one-size-fits-all measures that contradict existing safety and quality assurance practices for different types of contractors.

For instance, spraying water to reduce dust may be practical in some construction projects, but using it inside a home while cutting granite counters can cause mold. In cold weather, spraying water while cutting asphalt roof shingles could cause ice to form on the slanted surface, endangering workers. Ventilation and dust-capture systems can inhibit the safe operation of tools. And if prescribed measures are not practicable, contractors might be forced to eliminate products with silica altogether, including concrete, brick, granite, and other common construction materials.

Independent studies have estimated costs for construction industry compliance will exceed $1 billion per year.

NAHB is part of the Construction Industry Safety Coalition, which is seeking a feasible and cost-effective crystalline silica regulation that improves safety and health protection measures for workers. The coalition represents thousands of employers working to protect hundreds of thousands of workers in home building, road repair, heavy industrial production, specialty trades and materials supply.

It was formed to encourage OSHA to develop better choices for compliance with the construction-specific silica rule: alternatives that also address costs, consistency with existing federal regulations and do not overly burden small businesses.

Construction Industry Safety Coalition members include:

· Associated Builder and Contractors (ABC)
· Associated General Contractors (AGC)
· Association of the Wall and Ceiling Industry (AWCI)
· American Road and Transportation Builders Association (ARTBA)
· American Subcontractors Association (ASA)
· International Council of Employers of Bricklayers and Allied Craftworkers (ICE)
· Mason Contractors Association of America (MCAA)
· Mechanical Contractors Association of America (MCA)
· National Electrical Contractors Association (NECA)
· National Roofing Contractors Association (NRCA)

Call for Entries Announced for 2014 NAHBGreen Awards

NAHB Press Release

WASHINGTON, Aug. 28--The National Association of Home Builders (NAHB) is now accepting submissions for its 2014 NAHBGreen Awards. Each year, NAHB recognizes individuals, companies and organizations for excellence in residential green design and construction practices and for green building program and advocacy efforts.

The awards will be presented on Feb. 5 during an event held in conjunction with the 2014 International Builders' Show in Las Vegas.

"In recent years, there has been a surge of interest in green building, and the industry has responded by designing and constructing high-performance homes that reflect not only green and energy efficient principles, but also innovative design," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "Each year, NAHB recognizes the very best work in this sector in its NAHBGreen Awards."

In an effort to create a more streamlined submission process and to make it easier and quicker for applicants to apply, the applications for all Project of the Year categories have been revised this year and can be submitted online. The awards are open to both NAHB members and non-NAHB members. To be eligible for the Green Project of the Year categories, projects must have been started no earlier than January 2010 and substantially completed by December 2013.

Categories include: Project of the Year--Single Family, Project of the Year--Multifamily, Project of the Year--Remodel, Project of the Year--Green Site Development, and Advocate of the Year.

All homes and developments must be scored to either the 2008 or 2012 ICC-700 National Green Building Standard®, to ensure fair comparisons for judging purposes. This can be done by downloading the scoring spreadsheets at homeinnovation.com/greenscoring.

All entries must be received by Oct. 15, 2013. Application fees are $250 for Project of the Year categories and $150 for the Advocate of the Year award.

For more information, or to apply, please visit www.nahb.org/greenbuildingawards. Please contact Chad Riedy atcriedy@nahb.org with any additional questions

Help Ensure Better Building Codes

Beginning in September, NAHB will send a series of emails to all Builder members that detail some important proposed changes in the next current cycle of building codes as International Code Council (ICC) officials prepare for the Final Action Hearings in Atlantic City, N.J. Oct. 2-10. These hearings will determine the final outcome of all 2,065 proposed code changes to the International Residential Code, International Energy Conservation Code, International Fire Code and others.

NAHB has already developed the 2015 ICC Code Development Action Kit – available to logged-in members and HBA staff.

Why the push? Many of the code change proposals, if approved, will drive the cost of building even higher with minimal corresponding benefit. Paybacks for some of the proposed “improvements” may never be reached during the average home owner’s occupancy – and others are just a way to codify the purchase of a particular product or brand. On the other hand, there are also proposals, such as those submitted by NAHB, which do need approval to lower upfront construction costs while still maintaining occupant safety and welfare.

NAHB is calling on all builders to reach out to their local code officials attending the hearings so they vote and testify in support of NAHB’s positions on the most critical code change proposals. NAHB is calling on EOs, as well, to reinforce this message to their members, and will provide templates to make the job easier.

Watch your email after the Labor Day holiday – and help NAHB help our members promote sensible building codes. For additional information, contact Neil Burning at 800-368-5242 x8564.

Higher Mortgage Rates Prompt Pause in New-Home Sales in July

NAHB Press Release

WASHINGTON, Aug. 23 - Sales of newly built, single-family homes declined 13.4 percent to a seasonally adjusted annual rate of 394,000 units in July as higher mortgage rates prompted a temporary pause in buying activity, according to newly released data from HUD and the U.S. Census Bureau.

"The drop-off in sales in July is in part a reflection of buyers' reaction to the recent uptick in mortgage rates as people reassess their budgets to determine how much house they can afford," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "Consumers just need a little time to adjust to the new parameters of the market."

"New-home sales figures refer to newly signed contracts to purchase a home, rather than a completed sale, and it's likely that the higher rates caused some buyers to delay putting pen to paper," explained NAHB Chief Economist David Crowe. "However, there is still a great deal of pent-up demand for homes in markets nationwide, and builders continue to report improving consumer interest. This suggests that what we're seeing is a temporary pause, and that buyers will return to the market once they are confident that the higher mortgage rates are here to stay."

Every region recorded lower new-home sales in July, with declines of 5.7 percent, 12.9 percent, 13.4 percent and 16.1 percent reported for the Northeast, Midwest, South and West, respectively. Meanwhile, the inventory of new homes for sale edged up to 171,000 units in July, which is a 5.2 month supply at the current sales pace.

Congratulations to the Waianae Health Academy PACT graudates!

On Thursday, August 15, 2013, 11 students participated in the Waianae Health Academy Awards Ceremony held at the Waianae Coast Comprehensive Health Center.

The Construction Training Center of the Pacific (CTC-Pacific) partnered with the Waianae Health Academy (WHA), the educational arm of the Waianae Coast Comprehensive Center, to provide it's Pre-Apprenticeship Construction Training (PACT) Program for Native Hawaiians living in the Waianae community. 

The WHA PACT students completed a 9-week Pre-Apprenticeship Construction Training (PACT) program at CTC-Pacific.  Training consisted of Basic Principles for Construction, First Aid & CPR w/AED, OSHA 10-Hour, Fundamentals of Green Building, Introduction to Construction Skills, and Job Readiness courses. The students also participated in a job site tour led by Larry Hawkins at Castle & Cooke Homes Hawaii's Nohona 3 project in Kapolei.

Mahalo to Waianae Health Academy for a successful partnership, and a big mahalo to our education sponsors - Hawaii Energy Connection and Simpson Strong-Tie Co., who took time out of their busy schedules to familiarize the students with their line of work.

Congratulations to:

 Aren Aldeguer

Keane Ching

Diana Filoteo

Sarah Kauhi

Blyke Marinas

Phoebe Morimoto

Jamal Shamon Outlaw

Caesar Paishon IV

Lenore Pascubillo

Jeri Rodrigues

Corina Wilcox

View photo album here

Housing Starts Rise 5.9 Percent in July

NAHB Press Release

WASHINGTON, Aug. 16 - Nationwide housing starts rose 5.9 percent to a seasonally adjusted annual rate of 896,000 units in July as multifamily construction rebounded from a dip in the previous month, according to newly released figures from HUD and the U.S. Census Bureau. Meanwhile, single-family construction recorded a modest decline from a rate that was upwardly revised for the previous month.

"Builders are making every effort to keep up with the rising demand for new homes and apartments, and construction in both sectors is running well ahead of the pace we saw at this time last year," noted Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "However, ongoing issues with accessing credit and limited supplies of finished lots and labor are making it tough to do that, particularly for single-family builders."

"Today's report is in line with our forecast for continued, gradual strengthening of housing starts and permit activity through the rest of the year," said NAHB Chief Economist David Crowe. "The double-digit bounce-back on the multifamily side was in keeping with typical month-to-month volatility in that sector," he noted, "while the sideways movement in single-family was a result of unusually wet weather in the South and West."

Single-family housing starts declined 2.2 percent from an upwardly revised pace in June to a seasonally adjusted annual rate of 591,000 units in July. Meanwhile, a 26 percent gain to a 305,000-unit pace on the multifamily side offset a similar dip in the previous month.

Regionally, combined housing starts activity posted solid gains of 40.2 percent in the Northeast, 25.4 percent in the Midwest and 7.2 percent in the West, respectively, in July, while the South posted a 7 percent decline.

Issuance of building permits, which can be an indicator of future building activity, rose 2.7 percent to a seasonally adjusted annual rate of 943,000 units in July. Single-family permits dipped 1.9 percent to 613,000 units from a strong pace in the previous month, while multifamily permits gained 12.6 percent to 330,000 units.

Regionally, combined permit issuance increased across the board in July, with gains of 1 percent, 2.8 percent, 1.1 percent and 7.1 percent in the Northeast, Midwest, South and West, respectively.

Builder Confidence Rises Three Points in August

NAHB Press Release

WASHINGTON, Aug. 15 - Builder confidence in the market for newly built, single-family homes rose three points to 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for August, released today. This fourth consecutive monthly gain brings the index to its highest level in nearly eight years.

"Builders are seeing more motivated buyers walk through their doors than they have in quite some time," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "What's more, firming home prices and thinning inventories of homes for sale are contributing to an increased sense of urgency among those who are in the market."

"Builder confidence continues to strengthen along with rising demand for a limited supply of new and existing homes in most local markets," noted NAHB Chief Economist David Crowe. "However, this positive momentum is being slowed by the ongoing headwinds of tight credit and low supplies of finished lots and labor."

Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

Two of the HMI's three components posted gains in August. The component gauging current sales conditions rose three points to 62, while the component gauging sales expectations in the next six months gained a single point to 68 and the component gauging traffic of prospective buyers held unchanged at 45.

All but one region saw a gain in its three-month moving average HMI score in August. The Midwest and West each posted six-point increases, to 60 and 57, respectively, while the South posted a four-point gain to 54 and the Northeast held unchanged at 39.

Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found atnahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.

Rising Home Values Impact Affordability in Second Quarter

NAHB Press Release

WASHINGTON, Aug. 13 - Nationwide housing affordability slipped several notches as recovering markets witnessed significant firming of home prices in the second quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today.

In all, 69.3 percent of new and existing homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of $64,400. This is down from the 73.7 percent of homes sold that were affordable to median-income earners in the first quarter, and the first time that the measure has fallen below 70 percent since late 2008.

"Housing affordability has been hovering near historic highs for the past several years, largely due to exceptionally favorable mortgage rates and low prices during the recession," observed NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "Now that markets across the country are recovering, home values are strengthening at the same time that the cost of building homes is rising due to tightened supplies of building materials, developable lots and labor."

"Rising home prices signal the improving health in housing markets, and the median price of all new and existing U.S. homes sold in this year's second quarter, at $202,000, was well ahead of the second quarter 2012 median price of $185,000," observed NAHB Chief Economist David Crowe. "Together with rising mortgage rates, this contributed to affordability slipping to the lowest level in more than four years. Such movement would be less concerning were it not for ongoing discussions regarding potential changes to the mortgage interest deduction and federal support for the secondary mortgage market, both of which play enormous roles in keeping homeownership affordable."

While Ogden-Clearfield, Utah, was rated the nation's most affordable major housing market for a fourth consecutive quarter, a newcomer - Utica-Rome, N.Y. - claimed the title of most affordable smaller market in the latest HOI.

In the larger metro, 92.8 percent of all new and existing homes sold in this year's second quarter were affordable to families earning the area's median income of $70,800. This was slightly lower than the 93.4 percent of homes sold that were affordable to median income-earners in the previous quarter. Meanwhile, just over 97 percent of new and existing homes sold in Utica-Rome in the same period were affordable to families earning that area's median income of $63,800.

Other major U.S. housing markets at the top of the affordability chart in the second quarter included Indianapolis-Carmel, Ind.; Harrisburg-Carlisle, Pa.; Youngstown-Warren-Boardman, Ohio-Pa.; and Buffalo-Niagara Falls, N.Y., in descending order.

Smaller markets joining Utica at the top of the affordability chart included Kokomo, Ind.; Cumberland, Md.-W.V.; Vineland-Millville-Bridgeton, N.J.; and Bay City, Mich.

For a third consecutive quarter, San Francisco-San Mateo-Redwood City, Calif. held the lowest spot among major markets on the affordability chart. There, just 19.3 percent of homes sold in the second quarter were affordable to families earning the area's median income of $101,200.

Other major metros at the bottom of the affordability chart included Los Angeles-Long Beach-Glendale, Calif.; Santa Ana-Anaheim-Irvine, Calif.; New York-White Plains-Wayne, N.Y.-N.J.; and San Jose-Sunnyvale-Santa Clara, Calif.; in descending order.

All of the least affordable small housing markets were in California in the latest quarter. At the very bottom of the affordability chart was Santa Cruz-Watsonville, where 30 percent of all new and existing homes sold were affordable to families earning the area's median income of $73,800. Other small markets at the lowest end of the affordability scale included San Luis Obispo-Paso Robles, Salinas, Napa and Santa Rosa-Petaluma, respectively.

Please visit www.nahb.org/hoi for tables, historic data and details.

Editor's Note: The NAHB/Wells Fargo Housing Opportunity Index (HOI) is a measure of the percentage of homes sold in a given area that are affordable to families earning the area's median income during a specific quarter. Prices of new and existing homes sold are collected from actual court records by Core Logic, a data and analytics company. Mortgage financing conditions incorporate interest rates on fixed- and adjustable-rate loans reported by the Federal Housing Finance Agency.

The NAHB/Wells Fargo HOI is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public.

9,743 Attend the 9th Annual BIA-Hawaii Remodel it Right, Remodel it Green Expo

BIA Press Release

​HONOLULU- The 9th Annual BIA Remodel It Right, Remodel It Green Expo, held on August 9 - August 11 at the Blaisdell Exhibition Hall, generated an attendance of 9,743 over the three event days. Sponsors RevoluSun and BIA-Hawaii Remodelers presented Hawaii’s top contractors, suppliers, building industry experts and associates. The unique “Meet the Experts, Remodel It Right and Remodel It Green” interactive presentations offered educational round tablesessions with experts from the entire spectrum of the remodeling industry.

​Karen Nakamura, BIA-Hawaii CEO stated,

“We are surprised and very happy with the results of this year’s show. Out total attendance of 9,743 is a +25% increase over last year and our Sunday attendance of 4,311 is the highest number of Sunday attendees since this event premiered in 2005. Our exhibitors reported thousands of solid leads from attendees who came to the Expo with their plans, specific questions and timelines. Many families came to the Expo this year that were very actively planning whole house remodeling projects and were interested in seeking information from our experts. Popular topics included saving money by reducing energy consumption with solar photo voltaic panels, energy Starappliances, windows and green products that save people money with lower utility bills, rebates and tax credits. Since approximately 60% of Oahu homes are more than 50 years old and could benefit from a remodeling project, we are very committed to this building industry consumer event that is designed to educate homeowners in a collaborative environment.”

Builder Confidence in the 55+ Housing Market Shows Significant Improvement in Second Quarter

NAHB Press Release

WASHINGTON, Aug. 8 - Builder confidence in the 55+ housing market for single-family homes showed strong continued improvement in the second quarter of 2013 compared to the same period a year ago, according to the National Association of Home Builders' (NAHB) latest 55+ Housing Market Index (HMI) released today. The index increased 24 points to a level of 53, which is the highest second-quarter number since the inception of the index in 2008 and the seventh consecutive quarter of year over year improvements.

"Builders and developers for the 55+ housing sector are feeling optimistic as they are seeing more consumers return to the marketplace," said Robert Karen, chairman of NAHB's 50+ Housing Council and managing member of the Symphony Development Group. "With existing home prices rising, consumers are able to sell their current homes and make the move toward either purchasing a home or renting an apartment that is designed to more specifically suit their lifestyle."

There are separate 55+ HMIs for two segments of the 55+ housing market: single-family homes and multifamily condominiums. Each 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic). An index number below 50 indicates that more builders view conditions as poor than good.

All of the components of the 55+ single-family HMI showed major growth from a year ago: present sales climbed 24 points to 54, expected sales for the next six months increased 25 points to 60 and traffic of prospective buyers rose 26 points to 48.

The 55+ multifamily condo HMI posted a substantial gain of 24 points to 43, which is the highest second-quarter reading since the inception of the index. All 55+ multifamily condo HMI components increased compared to a year ago as present sales rose 26 points to 44, expected sales for the next six months climbed 26 points to 46 and traffic of prospective buyers rose 19 points to 38.

The 55+ multifamily rental indices also showed strong gains in the second quarter as present production increased 19 points to 50, expected future production rose 20 points to 52, current demand for existing units climbed 20 points to 62 and future demand increased 21 points to 63.

"The 55+ HMI for single-family homes almost doubled from a year ago," said NAHB Chief Economist David Crowe. "Sentiment in other segments of the 55+ market housing was strong as well. This is consistent with the increase in builder confidence we've seen in other NAHB surveys recently. At this point, the main challenge for builders in many parts of the country is finding enough buildable lots in desirable locations and workers with the necessary skill set to respond to the increased demand."

Statement from NAHB Chairman Rick Judson on President Obama's Housing Speech

NAHB Press Release

WASHINGTON, Aug. 6 - Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Charlotte, N.C., today issued the following statement on President Obama's housing speech in Phoenix:

"NAHB applauds President Obama for affirming the importance of maintaining a federal backstop as part of efforts to revamp the housing finance system and protect the 30-year mortgage. This will preserve financial stability, promote investor confidence and limit taxpayer exposure.

"The President also stressed that a healthy housing market is critical to create jobs, build a strong middle class and maintain a vibrant economy. In normal economic times, housing accounts for more than 17 percent of the nation's gross domestic product. Constructing 100 homes creates more than 300 full-time jobs and generates $8.9 million in tax revenues that help local governments to provide essential services such as schools, roads, and police and firefighter protection.

"Among other reforms, the nation's home builders also support strengthening the FHA to facilitate the flow of mortgage credit to qualified home buyers, cutting red tape and easing tight credit conditions that are preventing creditworthy borrowers from obtaining home loans, and supporting the Low Income Housing Tax Credit to ensure the availability of safe and affordable rental housing. This will help spur job growth, provide homeownership and rental opportunities for all Americans and boost the economic expansion.

"NAHB looks forward to working in a bipartisan manner with the White House and Congress to achieve these goals in the weeks and months ahead."

Improving Markets List Includes 247 Metros in August

NAHB Press Release

WASHINGTON, Aug. 6 - A total of 247 metropolitan areas across 49 states and the District of Columbia qualified for inclusion on the National Association of Home Builders/First American Improving Markets Index (IMI) for August, released today. While this is eight metros shy of the number listed on the IMI in July, it is approximately three times the number of metros that qualified for the list in August of 2012.

The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Three new markets were added to the list and 11 dropped from it in August. Newly added metros this month include Kankakee, Ill., along with Atlantic City and Ocean City, N.J.

"In all, 244 metros that were listed as improving in July retained that status in August, and this is an encouraging sign of the continuing housing recovery," noted NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "That said, we know that the pace of improvement is being hampered somewhat by challenges that builders and buyers are experiencing with regard to the availability of credit, materials, lots for development and labor."

"While the number of improving housing markets this August remains well ahead of the same month last year, the index is affected by seasonal softening in home prices just as we saw happen in 2012. The metros that fell off the list this month originally qualified with very small home price improvements that have since slipped back," explained NAHB Chief Economist David Crowe. "As house prices return to more normal levels in fully recovered markets, further IMI advancements will be more modest."

"Even with the small decline in the IMI this month, close to 70 percent of all U.S. metros are represented, and the geographic distribution of entrants continues to be very widespread," said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company. "These facts should be reassuring to today's prospective home buyers."

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metro area must see improvement in all three measures for at least six consecutive months following those measures' respective troughs before being included on the improving markets list.

A complete list of all 247 metros currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in August, is available at www.nahb.org/imi.

Mahalo to Servco for another stellar Networking Night!

 On Wednesday, July 31, 2013, over 100 people attended "Vino Italiana" Networking Night hosted by Servco Home & Appliance Distribution. The networking night featured special VIP guests from GE, delicious Italian food and wine.

 

 Featured guest speaker, Matt Rose, Contract Sales General Manager for GE, gave a presentation on GE's $1 billion investment in bringing manufacturing jobs back to the U.S. and also provided insight into the current state of the building industry across the U.S.

Mahalo to Craig Washofsky and the rest of the Servco team for hosting a stellar Networking Night!

 

To view more photos, "Like" us on Facebook