Business View Magazine | August 2022

48 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 8 Current trends expected to last for 18-24 months • Several trends are in play for the SCBA and the Colorado housing market in the next couple of years: • Prices will rise although may stabilize as inflation cools. • Rising interest rates will also play a role in the possible stabilization of prices as this is likely to cool demand. • Inventory remains low making it harder for consumers to find the home of their dreams. • Summit County will remain a desirable place to live, work and play but space for new homes is at a premium. • A decreasing stock market and potential recession is cooling confidence in the market. Affordable housing is a major issue throughout Summit County. As Hogan reports, “The trends of rising inflation and interest rates may impact this, but the current level for lower priced homes in the county averages around $500,000.” Because of this, workforce housing is another hot topic as individuals working seasonal jobs or starting a new full-time job aren’t able to find affordable housing or rentals. Local governmental entities have created moratoriums for rental properties, which is cooling the market for homebuyers who may need to rent their property to support mortgage payments. Hogan shares, “The building industry has become more complicated with new regulations and roles to follow that are regularly changing. The Summit County Builders Association will be here to support our members and help them navigate the current environment, whatever it may be.” its members understand the importance of supporting the next generation of builders. So effective in Fall 2022 it is investing in Colorado Careers in Construction, an accredited program at Summit High School to help educate students interested in a related career. Between this program and other efforts that SCBA has been involved in over the years, training is offered for aspiring welders, engineers, and other similar skills. Students can receive OHSA training and participate in courses designed to support careers in plumbing, HVAC, as well as additional areas. The SCBA gives two college or post-high school educational scholarships per year for students who are planning a career somewhere in the construction field, which also includes architecture, landscaping, and more. Hogan acknowledges, “We want to continue expanding this program because we realize how important it is to help support the next generation of builders.” Member benefits SCBA members have access to many different benefits that allow them to save on goods and services. NAHB members saved a combined $36 million in 2021 alone through all discounts, including new automobile savings with General Motors and Nissan, building materials at Lowe’s, numerous brands of rental car companies and industry-related discounts like trade shows, legal services, economic and housing research data, and continuing education classes. A full range of business management services discounts are available to members, as well as computers and hardware through Dell and office supplies at Office Depot. Members are eligible for shipping, phone, and point-of- service incentives through an expanding list of providers. Hogan says the SCBA leadership is constantly looking for additional incentives as a way to support member businesses and budgets.