GRAND RAPIDS, Mich. (WOOD) — New research from the Home Builders Association of Michigan shows building permits for new homes are the highest they have been in more than a decade.
Bob Filka is the CEO of the Home Builders Association and says the organization expects more than 17,000 permits in Michigan this year. Filka says historically low inventory of existing houses is one reason more people are looking to build a home.
Lumber prices, which soared during the pandemic, have come down. Filka says this is great news but cautions that things will still need to “catch up.”
He encourages anyone building a new home to have patience.
The full conversation with Filka can be watched in the video player above.
More information on the Home Builders Association can be found on its website.