Monday, July 27, 2015

Home Builders Association of Northern Kentucky Releases 2015 Construction Data

The Home Builders Association of Northern Kentucky recently released its data on new home construction and commercial activity for the first half of 2015.


“We continue to see widespread improvement in the construction industry,” said Brian Miller, Executive Vice President of the Home Builders Association of Northern Kentucky.  “We are back to 2009’s single family new home construction volume.  At this pace we may stand to top 1,000 single family permits; a benchmark not experienced since 2008.  All things considered growth is not equal in all counties in Northern Kentucky.  Boone County still continues to outpace Kenton and Campbell in volume growth.  In fact Kenton is in a stagnant growth mode and has been for some time.  Our economic model tells us that in the Tri-County area we have added 246 jobs to the Northern Kentucky economy due to single family new homes. While these are welcomed signs of improvement we still have a long way to go to get back to normal.  As things look now we should be entering a fully recovered and normal housing market by the end of 2019,” he concluded.

The single family new home market has increased 17 percent for the first six months of 2015 over that same period in 2014.

2015 Q1-Q2
2014 Q1-Q2

SINGLE FAMILY HOMES
SINGLE FAMILY HOMES
BOONE
226
BOONE
186

CAMPBELL
63
CAMPBELL
41

KENTON
115

KENTON

117

404
344


Commercial investment in Northern Kentucky’s most populated counties is on the rise as well.

The association also represents members in the commercial and light industrial construction industry.  

Over the last six months commercial investment into the three counties is up 23 percent over the same period in 2015 while the construction volume is up 13 percent.

No comments:

Post a Comment