Why Do Business With a Member?
NAHB is home to more than 140,000 Builder and Associate members working together to strengthen the home building industry. The camaraderie between both groups is vital for the continued growth of the Federation.
“It’s an understanding that we’re all working towards the same goal and in the values NAHB has,” said Eugene Graf, founder and owner of EG Construction. “We find a lot of value in doing business with a member, and we recruit members we want to do business with and encourage the ones we do business with to become or stay members.”
Graf won the 2022 NAHB Builders Engaging Associate Members (BEAM) Award. The award is given to the builder or local entity that embodies the motto “It’s good business to do business with a member.” The award is also meant to encourage Builder members to use the goods and services offered by member companies.
“Membership isn’t something where you’re automatically going to get more business,” says Graf. “You get out what you put into it. But it’s automatically an icebreaker knowing you both belong to an organization that’s looking out for your best interests.”
“Associate members make up a huge portion of our membership, and if an Associate company is willing to belong to a Builder’s association, we should reciprocate and appreciate that through doing business with them,” Graf added. “I think everybody can gain value from each other as long as you’re in an environment where you’re willing to spread information freely.”
If you know a builder who deserves recognition for their efforts working with other NAHB members, please nominate them for the BEAM award. Applications are due by Oct. 6.
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Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.