Holland —The number of single-family homes constructed in 2013 will increase by 39 percent over the number built in 2012, according to a forecast released today by the Home Builders Association of Michigan.The report seemed to follow what the Holland-based Lakeshore Home Builders Association is seeing locally, said executive officer Heidi Archer.
“The home building industry in the Lakeshore area is seeing a positive, steady increase in the new home construction,” Archer said. “The real-estate market is seeing a shortage in inventory, therefore the demand for new homes is increasing. Consumers are struggling to find the home they want with the available inventory, so they are seeking out one of our many talented custom residential builders to build new for them.”
Robert Filka, CEO of HBA Michigan, said the group’s outlook was the most positive it’s been in a decade. HBA Michigan attributes its positive forecast to a stronger Michigan economy and state legislation aimed at stimulating the housing industry.
The number of single-family home permits recorded year-to-date in Michigan was up 36 percent through the end of October. Those are the latest numbers available from the U.S. Census Bureau. Current projections are for some 10,000 single-family home permits to be issued in Michigan for all of 2012.
For single-family home permits in 2013, HBA Michigan forecasts 13,928 permits to be issued in the coming year.
Filka said, the housing industry also will be assisted this year by a new law adopted by the state legislature and recently signed by Gov. Rick Snyder. Public Act 494 of 2012 reduces the tax on new inventory homes that are constructed by homebuilders.
Archer was hired in October to help the Holland-based association reach out to builders and offer new services to its members.
“We are seeing an increase in membership at the association, and I believe this is a reflection of the positive forecast we are seeing in our industry,” she said.
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