PORTLAND - There could be more good news as the economy improves. Home construction is up in a big way, across the country and here in Portland.
The year 2012 was a comeback for the home construction industry, for both single and multifamily homes.
The National Association of Home Builders reports housing starts nationally in December were up 12.1 percent. It was the highest level of new home construction since June, 2008.
Fish Construction NW has two projects in the works. On N. Lombard Avenue, six homes are going up, all on spec. A few years ago that was unheard of. But as soon as they are built, they're are sold.
"It's about finding the right lots and getting homes built as fast as you can," said Jason Wood, with Fish Construction NW.
Overall, home construction was up in the Portland area well above the national average, at about 67 percent for single-family apartments, townhomes and condos.
"Just in the metropolitan Portland area, for every 100 homes that are built, it generates over $20 million in income and revenue to local businesses in the area. It generates almost $4 million in taxes, revenues and it generates over 300 jobs," said Dave Nielson, CEO of Portland Home Builders Assoc.
Builders said they expect the momentum to continue for the next several years.