Coulee Region, Wis (WEAU)- After a historic low in home building, numbers have begun to rise. Lenders say in the Coulee Region now might be the time to start building as interest rates are at an all time low.
2012 could have the strongest home building pace set in four years.
One of the new homes that is being built in the Coulee Region is owned by Patrick Ilfrey. Ilfrey says the timing for his new family home is just right.
“The interest rates are extremely low, the contractors are available, and raw material costs are relatively flat,” said Ilfrey.
Their home isn’t close to being finished, but by Christmas the Ilfreys hope to move in.
“This is a once in a lifetime opportunity and we took the chance and went for it,” said Ilfrey.
According to the La Crosse area Builders Association starter home construction is up 25% this year.
“Now the economic environment is starting to shape up and people are starting to get their confidence back. They are getting plans designed, and thinking it’s time to build a new home,” said Owner of Empire Construction, Tony Szak.
According to the Wisconsin Home Association permits were up 15.3% in April.
Contractors around the area are seeing a bigger demand, and some are already booked up for this year.
“There are less and less new home builders so it’s easy to book out now,” said Szak.
Contractors are welcoming the business with open arms as the last 2 years have been in a slump.
“We are much happier now. The last couple years were rough, and it’s tough to come to work when you don’t have a lot of work to do,” said Szak.