New-home construction in the Indianapolis area rebounded last month from a poor April to post a big year-over-year increase.
Modest increases in home sales are the latest sign that the market could be starting to turn around nearly five years after the housing bubble burst. Still, housing construction remains at roughly half the pace that economists consider a healthy market.
Pulte is tossing out the prior builder's playbook, which called for duplexes aimed at buyers 55 and older. Pulte rezoned the land to allow for single-family homes on larger lots. The resulting 123 home sites will accommodate ranch-style homes starting in the low $100,000 price range.
Newly confident buyers seeking to capitalize on low mortgage rates have discovered there’s a scarce supply of well-maintained existing homes for sale and are turning in larger numbers to new homes.
Residential building permits are being filed nationally at about half the rate considered healthy by most economists, but builders have grown more confident over the past six months after seeing more people express interest in buying a home.
Kim Hutchison, 52, the former treasurer of Greenwood-based J. Greg Allen Builders and Princeton Homes, has been sentenced to 18 months in prison for allegedly stealing more than $446,000 from the now-closed companies.
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
Kim Hutchinson, former treasurer of J. Greg Allen Builders and Princeton Homes, agreed to plead guilty to stealing $446,419. Her cooperation likely will result in a lighter sentence of 30 to 40 months.