The cost of building a home has gone up even as lumber prices are beginning to steady, said Eric Farrell, executive director of the Dayton Home Builder’s Association.
He said people who own homes are holding onto them longer, wary about trying to build. He said it was important for local leadership to have an strategy that attracts jobs and ensures people who fill those jobs have homes available.
“As mortgage rates increase, homes being sold is beginning to decline,” Sprague said. “And the home builders are having a (tough) time with increased costs building homes that people can afford.”
He said his office deals with finances daily and will continue to look into the issues to help make homes more affordable across the state.
There is a lot of hope for manufacturing in Ohio, he said, as the industry is growing again here. He’s heard many are receiving large orders, but manufactures are also having trouble as prices continue…
