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Home Builders Association of Michigan Forecasts Continued Strong Growth for 2014

Wednesday, February 26, 2014   (0 Comments)
Posted by: Michelle Rahl
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February 25, 2014 Kristine Richmond
M3 Group

Home Builders Association of Michigan Forecasts Continued Strong Growth for 2014

OKEMOS, MI – The Home Builders Association of Michigan announces that despite the cold weather drag on the industry at the start of the year, the forecast for 2014 single-family home construction shows continued strong growth in permits. HBA of Michigan attributes the strong forecast to an increase in job growth, a continued strong rebound in North American vehicle production and a rise in home sales in 2013.

"Over 91,000 more people were employed last year compared to 2012, said Bob Filka, CEO of the HBA of Michigan. "Without question, the biggest contributor to the burgeoning housing recovery was the rise in home sales, particularly the 12 percent increase in average home sale values when comparing Michigan Association of Realtors data from 2013 to 2012. Combined with continually decreasing inventories, the result was an acceleration of new home construction.”

During 2013, Michigan saw 13,359 single-family home permits recorded year-to-date (U.S. Census Bureau data). This number was up by 28 percent compared to the 10,459 permits issued in 2012.

From a trailing 12-month perspective, Michigan single-family home permits exceeded the 13,000-permit threshold for the first time since May 2008, when the residential housing market was nearing the end of a nearly five-year "free fall” that began in January 2005 and didn’t end until October 2009.

"We’ve seen steady upticks in virtually every market in the state,” noted Filka. "Although the weather has created a slow start for 2014, we believe our forecast is conservative and that dependent upon labor availability and sustained job growth, our number could very well be surpassed.”

Looking ahead at single family home permits in 2014, HBA of Michigan forecasts a continued upward growth of nearly 20 percent, with a total of 15,966 single-family home permits expected to be issued in the coming year.

The Home Builders Association of Greater Lansing is a professional, non-profit trade association comprised of builders, remodelers, subcontractors and suppliers to the home building & remodeling industry. The HBA works to positively promote the building industry and impact legislative, regulatory and legal issues affecting housing affordability. To learn more visit,

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