Tagged: home builders

There is a growing shortage of new homes in southeast Michigan.     That could be good news to the region’s home builders who have been struggling since before the recession began.

New home construction bottomed out in southeast Michigan in 2009 when few people were in the market for a home, new or not.

Last year, the number of home construction permits tripled, but still demand for new homes outstripped the supply.

 The nation’s home builders are one group expected to closely watch President Obama’s economic address to Congress this week.  Pulte Homes of Bloomfield Hills is the nation’s largest home builder.   

Pulte, like its competitors, has seen its sales plummet as the housing market crashed in recent years.    And past government efforts to prop up the housing market with tax breaks have failed to spur new home construction.