PORTLAND -- Home builders are happy again and confidence is the best in five years, after several years of a hit-but mostly miss market.
It was just a few years ago that seeing a new house being built was a rarity. Today, it's a different matter.
The area's largest builder, Arbor Custom Homes is starting five homes a day at Arbor Oaks, a subdivision in Washington County.
There is a growing need for homes. Inventory in the metro area is down to its lowest since 2007, just 4.7 months -- almost half what it was just a year ago.
Low inventory means in some cases, sellers are getting their asking price.
We're seeing month over month prices have stabilized and have increased slightly, sales and marketing manager, Arbor Custom Homes Ben Droukas, said. Because of that, we have four more phases in this particular community that we actually have in plat for right now, because we know it's going to be a good time to do that.
And all this construction has a ripple effectof more jobs.
During the recession, the Parker Concrete company went from 100 employees, down to four. With construction work on the rebound, the company now has 50 workers and is slowly adding more.
It's looking good, the guys are feeling great about it, said Jason McCallister, Parker Concrete.