Home building in Tulsa area up nearly 25 percent from last fall
BY ROBERT EVATT World Staff Writer
Saturday, November 10, 2012
11/10/12 at 4:09 AM
Local home builders continue to stay busy, with construction levels remaining well ahead of last year's pace.
The Home Builders Association of Greater Tulsa reported Friday that ground was broken for 177 homes last month. While the total was 7 percent behind September's tally, it was nearly 25 percent ahead of October 2011.
This year's home-start total through October stands at 1,933, a 30 percent ahead of the first 10 months of 2011.
Bill Butts, president of the Tulsa HBA, said local builders continue to benefit from pent-up demand.
"A lot of people sat on the fence for quite some time," he said.
Butts cited the strong local economy, low interest rates and greatly improved consumer confidence as reasons for this year's growth.
Much of the construction stems from homeowners looking to upgrade, he said.
"I think a lot of this is from families that are growing and need more square footage."
Butts said construction has experienced a boost in most price ranges, with homes that range from $275,000 to $325,000 doing particularly well.
Metro Tulsa will likely experience the usual seasonal construction slowdown as winter comes, though Butts said he's optimistic that builders will continue to beat last year's numbers.
"I'm pretty optimistic," he said. "A lot of the subcontractors I've talked to have a lot of work in front of them for the next couple of months."
Original Print Headline: Home construction tops pace of 2011
Robert Evatt 918-581-8447