During the past five months new housing construction has risen to almost 2%. This is the highest level since October of last year. The new construction housing industry is expected to help the economy in the Tri Cities; each house being built generates on average three jobs. On the downside apartment construction is way down. Between the months of June and July Apartment construction dropped 13%. Many people are more apt to go into a model home and sign a contract than go rent an apartment. New construction housing looks even better for some with the option of the first-time home buyer tax credit available. Builders and Realtors are pushing to have the credit extended to keep sales up.
Posted by Colleen Lane
on
During the past five months new housing construction has risen to almost 2%. This is the highest level since October of last year. The new construction housing industry is expected to help the economy in the Tri Cities; each house being built generates on average three jobs. On the downside apartment construction is way down. Between the months of June and July Apartment construction dropped 13%. Many people are more apt to go into a model home and sign a contract than go rent an apartment. New construction housing looks even better for some with the option of the first-time home buyer tax credit available. Builders and Realtors are pushing to have the credit extended to keep sales up.
Posted by Colleen Lane
on
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