- Areas like Detroit suburbs, Traverse City and Grand Rapids are seeing faster growth than Lansing.
- Interest rates, inflation and demographics of the Lansing area all play a role in the slower growth.
- Watch video to see what Karen Schroeder, Treasurer of the Home Builders Association of Michigan has to say about the Lansing market
(The following is a transcription of the full broadcast story)
“I see housing improving over time”
Karen Schroeder, Co-Owner Mayberry homes says more development is needed in our neighborhoods.
“There’s really a lack of housing available right now especially in Grand Ledge and Delta Township, 63 houses are on the market in the Grand Ledge School District, that's not enough!”
On Monday, the Home Builders Association of Michigan announced a 22% increase in single family housing permits over last year.
But for our neighborhoods here that growth doesn't seem to be as high.
“I believe the 22 percent is for the entire state as it was presented. It doesn't relate as strong for Delta Township or Grand Ledge or even the greater Lansing area.”
The slower growth can be attributed to Interest Rates, Inflation and the demographics of the Lansing area.
“I mean look how long it took to get a Trader Joe's in the area”
But overall, with new developments like the Ultium Battery plant and Amazon distribution center coming to Delta Township further Growth in the new single family housing market should be on the horizon.
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