SPOKANE, Wash. -- Encouraging news came out of the job market in February.
The Commerce Department says home builders started construction of new homes in February at the second-fastest pace in almost five years. Building permits jumped too at a rate of more than 4.5 percent.
Local builders notice the trend.
Home construction companies are seeing a major increase in businesses this year. The lack of choice for buyers, they believe, will keep the growth going into spring and summer.
“The market isn’t finding what they want in existing homes right now, so they’re turning to new homes,” owner of Condron Homes Corey Condron said.
Condron Homes has already had a busy year and expects an increase for the rest of 2013.
Usually construction starts to slow by summer, but this year Condron hopes to keep business going at least into June.
The lack of choices in old homes, plus the low interest rates, makes for one of the biggest times in recent history to buy a new home.
“If people don’t take advantage of this opportunity, it’s going to slip by,” Condron said.
While the current numbers are the best nationally in four-and-a-half years, Condron says he hasn’t had business like now since 2007.