Wisconsin Builders Association: Builders welcome “the beginning of the beginning” of the housing recovery
Contact: Annie Rubens, WBA Director of Communications, (608) 242-5151 ext. 19, email@example.com
Media outlets recently cited data showing that building permits for new homes rose in 5 of Wisconsin’s metro areas. The data show that permits for the month of April were up 15.3% over April of 2011 and up eleven percent year-to-date, compared to the same period last year.
“This is what we’ve been waiting to see,” said Jerry Deschane, Executive Vice President of the Wisconsin Builders Association. “The recession has been officially over for many months, unemployment has been dropping, interest rates are at an all-time low, and our members have been telling us all spring that they are seeing more customer traffic. What has been missing is the statistical proof that the housing industry is finally starting to recover in Wisconsin. Today that proof has been revealed.”
According to the data cited this morning, 286 homes have been permitted for construction so far this year in Wisconsin’s larger metro areas, compared to 248 from the previous year. Deschane points out that, while the numbers are modest, that increase will be felt in Wisconsin’s economy. “Every new home provides work for three full time employees. The 85-home increase over last year means that an additional 255 Wisconsin construction workers are on the job again. And, at an average value of $200,000 per home, Wisconsin will see an additional investment of $1.7 million by Wisconsin families.”
The Builders cautioned that the recovery is fragile and will take time to gather momentum. Wisconsin is not likely to fully recover to pre-recession levels for at least two years. “But every recovery has to start somewhere, and after the biggest housing slowdown since the Depression, Wisconsin builders, workers, taxpayers and homeowners are glad to see that day has finally arrived.”
The Wisconsin Builders Association® is a non-profit organization comprised of more than 5,000 members and 25 local associations committed to preserving and promoting the American dream of home ownership by working for quality, safe and affordable housing in Wisconsin.