Michigan is enjoying a year of renewed economic growth and improving industrial development the likes of which has not been seen since the pre-recession year of 2006. However, aside from the improving job market and the booming automotive industry, Michigan also wowed us with a record-breaking number of new construction projects, which again, have not been seen to increase to such an extent since before the recession.
With 15,176 construction permits issued in 2016, Michigan had experienced an impressive 11% growth compared to the year before. This increase is just expected to get better by the end of this year and for the future, as the state’s local economy continues to better itself.
Since homeowners are experiencing higher incomes and are able to obtain better jobs than before, the entire housing market has sustained a complete reboot, local experienced roofing contractors are on the uptick too. The regrowing housing market and new construction trends aimed toward sustainable energy sources through geothermal and solar, as well as the demand for higher quality fixtures and materials designed to protect homes and prevent the need for repairs, are some of the main elements that drive this renewed growth.
As the salaries and the demand for technologically advanced, well-built Michigan houses and apartments continue to grow, we can expect even more new residential buildings to be built on Michigan soil.
Originally Posted here: Michigan Construction Trends
No comments:
Post a Comment