Some good news for those involved in new
construction. According to the Associated Press, home sales were the highest
they have been in eight years.
Some good news for those involved in new
construction. According to the Associated Press, home sales were the highest
they have been in eight years. Also, the AP said that the construction of new
homes is the busiest it has been since last fall.
Of course,
there are some downsides to the news. The gain in homes sales has a lot to do
with buyers taking advantage of very low home prices. It can be assumed that
previous homeowners are probably losing money on the sales. Or many of these
homes are bank foreclosures with banks not making back their initial
investment.
But back to the good news, which is what many
people in the construction industry and mechanical trades need to hear.
Apparently, it looks like some of the Reinvestment and Recovery Act funding may
be working, especially when it comes to new construction. Many new homebuyers
are taking advantage of tax credits that allow them money back when they
purchase a newly constructed home. I’m curious if any of our readers have had
the benefit of working on any of these projects and if they can verify the
news. Let me know if you are working on any new residential projects. And let
me know how the housing market is shaping up in your neighborhood.