Building a Home This Year in Rochester, Rochester Hills? You're Helping Upward Trend
Housing starts have risen in both cities over past 5 years, and state association says that construction will continue in 2013.
New home construction has been on the rise in Rochester and Rochester Hills for the past two years — and according to a forecast from a state home builders' group, that trend will continue in 2013.
The Home Builders Association of Michigan is forecasting that single-family home construction this year will increase by 39 percent over 2012 levels — which were already at five-year highs in Rochester and Rochester Hills.
“With record low new home production for the past several years, pent up demand is finally beginning to burst through in the marketplace,” noted Robert Filka, CEO of HBA Michigan, in a statement on the association's website. “When combined with positive tax and regulatory changes that will encourage more investment, our outlook is more optimistic than it’s been in nearly a decade.”
Here's a look at home-building permits issued over the past five years in Rochester and Rochester Hills.
Housing starts in Rochester, Rochester Hills
Source: Cities of Rochester, Rochester Hills
Nik Banda, deputy city manager for the city of Rochester, said that although no permits have been issued yet this year, "there are four under review as we speak."
Banda predicts 2013 will be another great year for home-building — and home reconstruction in the city.
"These numbers show a great trend, and they don't even take into account all of the rehabs we have going on with existing homes in the city," Banda said.