Homebuilders Back at Work in Pierce County
Homebuilders in Pierce County are getting up off the dirt. In the past few months, new homes have started to appear, here and there, across the county. One or two go up at a time, filling in neighborhoods that have sat, pockmarked with empty lots, for almost four years.
The new-home market seems to be at the beginning of a true recovery – one driven by customer demand. Permits shot up in 2010 because of federal stimulus, in the form of a tax credit for new home purchases. But when the credit expired, customers disappeared. Last year was almost as bad as 2009, now viewed as the bottom of the market.
In the first four months of 2012, the rate of permitting for single-family homes is up about 10 percent in the county from 2011.