New housing market booming in the Tri-State, local companies say - WSFA.com Montgomery Alabama news.

New housing market booming in the Tri-State

CINCINNATI, OH (FOX19) -

Five years ago the new housing market was in rough shape, but now the housing industry is experiencing a boom.

When the housing market crashed, construction workers were laid off or couldn't find work. Now it's a much different story.

"We've been hiring," said Fischer Homes Corporate Marketing Manager Steve Whaley. "What you also hear is out on the supplier side, people that were making drywall, they may have moth balled plants that were making drywall. Now they're bringing things back online as they see houses come back."

Whaley says new home sales are up 30% this year compared to 2012, and he believes people will continue to buy new homes.

"You look at the numbers of homes for sale, compared to how many there were in 2007 in Cincinnati. There are 40% fewer homes in the market," said Whaley. 

Home prices are also on the rise. According to experts, prices were up 12.2% from May 2012 to May 2013. That's the biggest one year increase since March 2006.

Copyright 2013 WXIX. All rights reserved.

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