Michigan Home Construction Expected To Increase 39% In 2013

Good news for Michigan home builders.

The Home Builders Association of Michigan projects a 39% increase in the construction of single-family home construction compared to 2012.

The HBAM says the increase is due to both a stronger Michigan economy and state legislation which reduces taxes on new construction.

HBAM explains:

...the housing industry will be assisted next year by a new law adopted by the state legislature and recently signed by Governor Rick Snyder. Public Act 494 of 2012 reduces the tax on new inventory homes that are constructed by homebuilders.

HBAM's projections are holding true on the lakeshore.  Hollandsentinal.com reports:

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.”

Looks like a step in the right direction.