TN Builder News | June 23 2021
In this issue
  • Lumber prices drop, but challenges remain
  • HBA members savings with Lowes
  • Buyer’s desires: Kitchen & Bath
  • FHA removes student loan calculation
  • NAHB One in 21 Challenge
  • Tennessee Celebrates 225 years of Statehood
  • Get paid back, HBA Member rebate reminders
Wood you look at that! Lumber prices drop 


(WKRN – video) – A sigh of relief as lumber prices drop. But there is more to the story.
 
It comes after it skyrocketed more than 300% since April of 2020, increasing the price of a new single-family home by more than $30,000 according to the National Association of Home Builders. “When (the lumber mills) cut the output of lumber 40% a year ago and demand goes up, we’re still working our way out of that problem.” Charles Schneider said with the Home Builders Association of Tennessee.
 
That problem has turned plural, impacting both the price of homes and the pace their built.
 
Why has the price dropped? Many in the industry just said “enough is enough!” “I think a lot of builders and buyers just said it got too high and they stopped buying,” David McGowan, President of Regent Homes said.
 
The price of U.S. lumber futures peaked in late May at around $1,700 per-thousand-board-feet, recently dropping about 40% to just below $1,000 per-thousand-board-feet. “The price has gone down from what it was three weeks ago but its still 300% higher than two years ago,” Schneider said.
 
It signals that we still have a ways to go and homebuyers won’t see a dip in prices for quite some time. “I think it’ll be 18 months before any kind of significant decrease in supply increase in supply happens to reduce the price of housing,” McGowan said. 
On the other hand
Frustrations boil after U.S., Canada extend border closure for at least another month
Decision continues to restrict the supply of Canadian Lumber to U.S. market
OTTAWA — Canada and the United States are extending pandemic-related restrictions at their land border for at least another month in a move that’s fueling frustrations on both sides of the frontier.
The Trudeau government announced Friday that both countries agreed to keep the crossings closed to nonessential travel until July 21. The governments are facing intensifying pressure to loosen the measures and taking heat over the lack of a clear, detailed reopening plan.
The frustration: The decision drew swift disapproval from those demanding a reopening. Read more at Politico. 
Get more value from your membership with HBA exclusive savings.
We know our members have great relationships with several suppliers. We are proud to have many of them as HBA members too. 
With today’s tight supply chain, you or your subcontractors may occasionally run over to Lowes to buy an extra stud or a few more pieces of hardware. This week, we wanted to remind you that as an HBA member you can register with Lowes using your NAHB Personal Identification Number (PIN) to qualify for savings on those extra purchases. Learn more. 
Lowe’s Discount Benefit for NAHB Members




NAHB members save 2% on your Lowe’s Accounts Receivable or Lowe’s Business Account purchases. Save an additional 5% everyday at the store when using your business card.





(NAHB Now) When it comes to key home amenities, double sinks and pantries stand out as “must have” items in the kitchen while a shower stall and tub are essential in the primary bathroom, according to NAHB’s recent study, What Home Buyers Really Want, 2021 Edition.

Among the kitchen features, more than four of every 10 buyers think the double sink is so essential they would be unlikely to buy a home without it, making this the highest essential share of all kitchen features listed.
And while double sinks and pantries were the only two kitchen features rated as essential or desirable by at least 80% of buyers, four additional features are sought by more than 70% of buyers:
Table space for eating (78%),
A central island (77%),
Drinking water filtration (76%), and
Granite or other natural stone countertop (73%).
It’s no surprise that the survey shows that bathrooms — especially the home’s primary bathroom — tend to be very important to home buyers. Of the 18 different bathrooms features listed in the survey, 12 received an essential or desirable rating from more than 50%.
The four most-wanted bathroom features are all related to the home’s primary bath. At the very top of the list:
A linen closet in the primary bath, rated as essential or desirable by 76% of home buyers;
A shower stall and a tub (74%);
A double vanity (69%); and
A private toilet compartment (67%).
FHA Acts to Remove Homeownership Barriers for Those With Student Loan Debt
At NAHB’s urging, the Federal Housing Administration (FHA) today announced updates to its student loan monthly payment calculations to take steps to remove barriers and provide more access to affordable single-family FHA-insured mortgage financing for creditworthy individuals with student loan debt. More.
One Conversation that Can Help Bolster a Business and Your Industry

NAHB’s ONE in 21 campaign focuses on empowering each member to take part in the recruitment and retention process – one member at a time. Every Home Builder Association is a thriving community of industry professionals. But our success in membership did not grow overnight. It took time, energy and dedication—one new member at a time. We’re calling on you to think about recruitment in a different way and prioritize membership efforts. Can you recruit one new member in 2021?  
225 Years of Statehood
NASHVILLE, Tenn. – Last week, Tennessee Governor Bill Lee unveiled three limited-edition posters highlighting each Tennessee grand division to celebrate 225 years of statehood. Tennesseans are invited submit an untold story that showcases something special about the area of Tennessee you call home and get a free limited-edition poster that celebrates one of three grand divisions.
 
We know some of you are great storytellers, lend your talent to this archival effort to record Tennessee history.


It is Festival Season in Tennessee
Take advantage of the events happening from Memphis to Mountain City, Made in Tennessee compiled a list of festivals and outdoor events from each of Tennessee’s nine regions.
Get Paid Back with Rebates Available to HBA Members
Home Builders preach the benefits of doing business with a member. We want you to do business with like-minded people who support our industry. We also encourage you to take advantage of savings by participating in Rebate Programs.
Builders and Remodelers, if you’re not participating in this rebate program, you’re leaving money on the table. Register and claim your rebates www.HBATrebates.com 




One of the great benefits of your HBA membership is access to multiple savings programs on products you already purchase. We encourage all members to use these programs. New participants are often surprised they save 2x-4x the amount of their annual dues.
Need new work trucks? Click on any of the images below for more information.



GM’s Limited-Time Incentives
  • 2020 Silverado MD: Bonus Cash of $500-$2,000 (varies based on trim). Ends 06/30/2021.
  • Low Cab Forward receives $500-$4,000 (varies based on trim and delivery type). Ends 06/30/2021.

Take a look at a list of NAHB incentives on eligible GM vehicles 


NAHB has Additional Savings Programs for Business Savvy Members
Whether it’s a discount on a product or service or a more efficient way to operate, the smart business person is always looking at ways to cut costs and maximize returns.
Through agreements with more than 20 national companies, NAHB offers exclusive discounts on a variety of products and services that can benefit your business, employees and family. 
Make the most of your membership and check out the discounts here.
This online pdf flyer maybe easier to see on your phone.