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Northeast Ohio new home construction, sales on the rise

5:36 PM, Sep 28, 2012   |    comments
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A sure sign the economy is improving: more construction.

After years of inactivity, local builders are finally seeing demand for new homes increase.

"With land prices staying low and a lot of opportunity out there that came to us, we've been doing more and more building," says Mark Verdova, with Payne and Payne Builders.

Recent surveys done by Market Watch found the demand for new homes is up nearly 28 percent from a year ago.

Here in Northeast Ohio, year over year pending sales are up 33 percent and closed sales are up 28 percent, according to Keller Williams Realty.

Average sold prices are also up. There is a 10 percent increase in price per square foot.


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