As the summer months get under way, signs of life—faint though they may be—are returning to the custom home building and remodeling segments. Time will tell whether homeowners are clinging to false hopes that the economy is actually turning around. In the meantime, some custom builders say their phones are ringing with greater frequency these days.
Several custom and spec builders in Waco, Texas, are experiencing increased interest from clients, and the jobs are starting to line up. As the local market appears to be stabilizing, however temporarily, many builders are expressing cautious optimism or outright excitement, reports the Waco Tribune-Herald.
A slight resurgence in spec home building around the nation is occurring as some builders shake off their “post-bubble paralysis” and shift focus away from simple survival toward getting homes built and sold, The Wall Street Journal reports.
In Washington’s Yakima Valley, residential construction permits indicate that updating older homes has become more popular than building new, and local builders and contractors are reaping the benefits. While spending on home improvement has declined nationally for the past two years, some custom builders and remodelers in the Yakima Valley are finding little reason to worry about their business’ stability, reports the Yakima Herald-Republic.
And in other parts of the country, remodelers are reporting growing client interest in starting projects, as reported by our sister publication, REMODELING magazine.
But not all regions are so lucky. Though home sales are strong in Nashville, Tenn., local custom builders are facing drastically reduced appraisals and severely reduced purchase prices for high-end homes. Leaders of the local Home Builders Association’s Custom Builders Council fear this double whammy could force some companies out of business, the Nashville Business Journal reports.
