Mid-Michigan housing market improves, but not drastically
Tue, 10 Jul 2012 20:28:28 GMT —
For years, a shaky economy has effected Michigan's housing market. Now, it's trying to make a comeback.
Tom Bailey has owned a construction business in Saginaw for more than 30 years. He's a part of the Michigan Home Builders Association. They survey contractors monthly and Bailey said they found the housing markets in some Mid-Michigan areas are improving.
"Over the last three months it has definitely showed an increase of activity in home building as well as renovations," Bailey said. "Midland tends to be very very good. Grand Rapids has shown some improvement, Saginaw and Bay City are not quite as good as Midland, but has shown some improvement."
A sign, contractors most likely want to see. This is after a drought in the housing market for years. However, it's not drastically different.
"Permits might be up by 15% in Saginaw, but there were hardly any last year. So 15% doesn't mean a lot as far as the number of houses being built, but it does show an improvement," Bailey told NBC25.
While this gives hope to Michigan's economic health, Bailey said they still have a long way to go.
"Six years ago we were 540 members. We're down to 230 members now. That has an indication of the number of builders that have left the area or others that just can't join the association," Bailey said.