Despite a lower number of permits being issued in the greater Rochester area the first half of 2009, builders remain optimistic for the remainder of the year and beyond.
New home building permits were down over 35%. An unusually snowy winter and unsettled national economy is to blame. “The winter months were long and hard on our industry and the lack of consumer confidence due to the national economic uncertainty early this year has not helped our local industry,” said Dawn Aprile, Chairman of the Rochester Home Builders’ Association and President of Premium Development Corporation. “Many local businesses were affected by the national economy. It has just been recently that we are seeing consumers realizing how solid the housing market is in the greater Rochester area and they are now looking to take advantage of the market,” Aprile said.
“Rochester is a pre-sold market.” said Rick Herman, Chief Executive Officer of the Rochester Home Builders’ Association. “The housing market is good in Rochester compared to the rest of the country. We have a very well balanced market, prices remain stable, and values rarely drop. Housing is a secure investment in our area.” Herman added.
Some products are moving faster than others when it comes to new home sales. The starter market is experiencing a brisk business due to the $8,000 Federal Tax Credit and the “downsizing” of homes also seems to be solid. The Greater Rochester Area has experienced an “adjustment” or “soft landing” when it comes to new homes. Builders are confident that as consumer confidence is regained, the market will take off again in 2010 with stronger numbers.
In 2009 the Rochester Home Builders’ Association (RHBA) and its nearly 400 business members are celebrating the association’s 75th anniversary. Incorporated in 1934 the Rochester Home Builders’ Association is one of the original eight associations that helped to form the National Association of Home Builders (NAHB) in Washington, D.C. Seventy five years later NAHB has more than 800 chapters across the country, and the Rochester Home Builders’ Association is one of the strongest and most active of the 16 chapters in New York State. The RHBA is a trade association of home builders, remodelers, general contractors, trades, suppliers, lending institutions and many other businesses that support the building and remodeling industries. Find out more at www.rochesterhomebuilders.com
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