Area builders say housing market improving
PADUCAH, Ky. - Ron Eftink has been in the business of drywall since 1978. On Friday, he is hard at work at a new home and glad to be there. In recent years, he admits, work has not always been there.
"We used to do pretty close to a million dollar business. We went down to a $100,000 business in 6 months," he remembered of 2010.
A failing economy had people hesitant to build new homes. So, Ron was forced to lay off employees and wait by the phone.
"Usually, we were a month behind we were so busy, then there was no rush."
Phil Franklin is the President of the West Kentucky Home Builders Association. He said, in recent years, both he and his members were hurting, "For the last four years we were at the bottom."
According to the National Association of Home builders, the housing market has held steady and improved over the past seven months. Economists say there are three contributing factors. Demand, low mortgage rates, and affordable house prices.
In fact, Franklin says the past few months he has seen business shift from renovations to building.
"They weren't building new homes, they were fixing up what they had," he said of past business.
Both men say the first few months of the year have been lucrative and they are now working several jobs.