Here’s hoping the new year brings more prosperity and economic growth than last year. This recession has been a kicker especially for those in the home building, home selling, home design and home remodeling industry. With foreclosures expected to continue at a high pace, no one in this home building and remodeling industry thinks the hard times are over but things are looking up.
2011 saw many home building and remodeling businesses shut their doors this past year, most notably Rottlund Homes which had been a top home builder in the Twin Cities for the past 40 years. We were very sorry to see them go.
While NIH builds many homes in Plymouth, MN, a city that is growing rapidly and where building new homes (especially new eco friendly homes) is outpacing any other city in Minnesota, we too have had our share of challenges, like all businesses, but continue to grow and improve. Lately we have added new faces to our company and will be introducing them in the coming weeks.
We’re confident that 2012 will be a better year for the housing industry. We still have a ways to go and in fact may never see the glory days of home building again, but it’s getting better. Interest rates are still at historical low rates and the backlog of foreclosures is slowly getting worked through. Inventory remains high, and prices remain low, which means it’s a great time to buy a new home.
Happy New Year!