Could we be in the early stages of a housing market recovery?
One thing that could be fueling this growth is the resurgence of housing construction.
A quick trip around the Valley will reveal the rumblings of projects that have sat dormant or were in the planning stages for several years recently breaking ground now and moving ahead.
Case in point: Site work for 78 new single family homes is starting up near Route 22 in Palmer Township. The township approved the Maple Shade Estates development for Tuskes Homes several years ago. Half of the homes will be in Palmer and half in Bethlehem Township. The site covers 58 acres and prices will range from $349,000 and up to $379,000 and up.
Tuskes also built several housing developments in the Lehigh Valley and is doing an expansion project for the Eagles Landing single-family housing community of Upper Nazareth.
Additional homes have cropped up in the Breinigsville area. In 2011, the Heritage Homes Group was closing in on the final phase of its multimillion dollar housing project.
Heritage Homes Group's Highgate development contains 185 single-family houses and 226 townhouses.
The Villas at Highgate, which are townhouses, and the Manors at Highgate, which are single-family houses, are located off Route 222 and are also close to the Pennsylvania Turnpike's Northeast Extension, Route 22, and Route 78, offering accessibility to New York City, Philadelphia, and Harrisburg.
Prices for single-family houses start at $269,000 and go up to $394,000, while townhouses start at $179,000 and go up to $239,000.
The project began in 2007 and should be complete this year.
Here's an interesting article that talks about the housing construction boom and what it could mean for the industry:
And look at this article about the housing boom from The Express-Times which talks about Forks Township and other areas:
These are all positive signs that could lead to a true resurgence and more opportunities for work for contractors. What do you think?