New Home Builders leaving the business

Builders are leaving the market by the dozens.

It is a difficult market when 60% of the homes in your market are foreclosures or short sales...it is even more difficult if you have to sell new homes at the high end of the market.

We have seen the number drop substantially within the membership of the local home builders association.

The membership has dropped enough to cause the local home builders association to put their building up for sale and close ranks so they can sustain the association and be fiscally responsible.

New home construction in the Midwest fell by 13.7% with an expect drop to 650,000 units monthly on a nationwide basis by mid summer of 2009 as opposed to current rate of 791,000 new home starts.

This impacts many areas of our economy and expands the already difficult situation for building related services.

How are the builders doing in your area?