Eau Claire (WQOW) – While home prices continue to rise, home construction nationwide has reached a new low, but that trend doesn’t apply here.
According to researchers at the Federal Reserve Bank of Kansas City, home construction per household is at its lowest levels in six decades. The low numbers can be attributed to a lack of affordable housing and a shortage of construction workers across the country.
While the numbers decline nationwide, experts here in the Chippewa Valley say that’s not the case.
"In the Chippewa Valley, we are seeing a very steady, slow growth in terms of new home construction," said Christina Thrun of the Chippewa Valley Home Builders Association. "Our builders in our area are very confident about the market, and the housing market we’ve seen here can be very steady and strong in terms of existing home sales. So, you’re seeing a lot of our builders take the risk of taking on new developments."
Thrun said many new home developments have been announced for the Chippewa Valley, but the rest of the nation could still be feeling the effects of the 2008 housing market crash.
