June 23, 2017

Summer is Here!

Association Maximization is taking a break for the summer months but we will be back in September, refreshed, tan, and ready!

Have a very safe summer, all!

June 11, 2017

75 Years; Happy Anniversary, NAHB

This week, as the leadership, volunteers, and staff of the National Association of Home Builders (NAHB) gather in our nation's capitol, a major milestone will be celebrated. 
75 years of home building advocacy, building communities, product research, industry education, industry development, and state by state relationships. The 75th Anniversary Gala (click here) is where we will thank our elected leaders on Capitol Hill and in state houses across the country for their support of the American Dream. Invited guests also include members of the NAHB Hall of Fame and BUILD-PAC’s Capitol Club, Platinum Club and Gold Key Club members.

I am very proud to have taken part in the national leadership of NAHB, 17 years strong as of this June 2017. I have met quite a few people over those years and developed lifetime friendships. I also had the chance this year at the International Builders Show to watch my very close friend, Dean Mon, become a part of senior NAHB leadership as he was installed as 3rd Vice Chairman. Dean becomes the first New Jersey builder in over twenty years to have this honor and will serve NAHB's members incredibly.

This week is also bittersweet; NAHB, and the New Jersey Builders Association (NJBA), lost a very dear friend and leader, John Giaquinto. John was a past NJBA president and, believe or not, extremely active BUILD-PAC trustee, serving at the age of 94.
John will be missed but know that he was a part of NAHB for over 50 of these celebrated 75 years and is a testament to passion. John's obituary can be viewed here.

Godspeed, John. 

Let's take a walk down memory lane and learn about NAHB's distinguished history...

NAHB, congratulations! 
Here's to another 75 years!


June 3, 2017

Update: Economic Outlook

Economic Outlook

Looking forward, there are signs that conditions in the housing market should show continued improvement in the coming months:

·        While the economic recovery has been uneven, it continues to add jobs, a key driver for housing market recovery.
·        Low interest rates and post-bubble house prices that have settled back to normal in most of the country means that housing affordability is high in many markets.
·        Growing household formations, along with shortages of lots and labor, have resulted in tight housing inventories in many markets across the nation.

Housing Market Snapshot

Housing Starts                      (April 2017)
Total:  1.17 million
           Single: 835,000                  Multi: 337,000
Home Sales*                         (April 2017)
New: 569,000
                    Existing: 5.57 million

Median Home Prices          (April 2017)
New: $309,200
                  Existing SF: $246,100
*Seasonally Adjusted Annual Rate; Arrows indicate direction from previous month for starts and sales and year for prices.

NAHB/Wells Fargo Housing Market IndexThe index, which measures builder confidence in the market for newly built single-family homes, rose two points to 70 in May from an April reading of 68. Any number over 50 indicates that more builders view sales conditions as good than poor.

NAHB Chief Economist Robert Dietz’s analysis: 

“Builders remain optimistic about market conditions even as they deal with higher building material costs and shortages of lots and labor. The housing market is expected to continue on a gradual, upward path throughout the year, buoyed by rising household formations, continued job growth and tight existing home inventory. Moreover, the pace of wage growth and upcoming Federal Reserve monetary policy announcements will help shape future changes in mortgage interest rates.”

submitted by Michael Kurpiel, CGA, CGP