2016 was a good year for Michigan home builders – just not as good as expected.
Data from the U.S. Census Bureau shows 15,176 permits were issued in Michigan for new home construction in 2016. That’s the highest since 2006 (16,538).
But that’s 1,700 fewer permits than were forecasted.
Bob Filka, with the Michigan Home Builders Association, says the industry should be doing better.
“When you look at the job creation numbers in the state, the unemployment level,” says Filka, “we should have more housing investment happening right now and we’re not.”
Filka says Michigan’s home building industry is having trouble finding money and workers to build new homes.
The MHB is predicting an 8.8% increase in permits for new home construction this year, but auto sales and oil prices may pose a problem.