Homebuilding in Louisville on the upswing - WDRB 41 Louisville News

Homebuilding in Louisville on the upswing

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LOUISVILLE, KY (WDRB) -- The homebuilding industry in Louisville and nationwide is off to a strong start in 2013.  Nationwide in February, builders began work on single family homes at the fastest pace in five years.

"The lots are being absorbed at a pretty good rate and activity is brisk in all of our developments," says Rocky Pusateri of Elite Homes in Louisville.

Residential building last year in Louisville was up 42 percent from the previous year, and that upward movement continues so far this year.

"I think people are starting to feel more comfortable about their jobs, and their salaries, their money," says Pusateri, "and that it isn't going to be the end of the world like a lot of people thought for awhile."

In some cities as the demand for new homes has increased, some builders cannot find enough workers.  While that's not so much the case in Louisville, the industry here is always looking for more skilled tradesmen.

"The five year recession that went on certainly depleted the market," explains Pusateri, "and a lot of workers found employment in some other field, and in a lot of cases are hesitant to get back in."

Some economists predict that if demand for new homes continues, higher wages will convince many laborers to return to their old jobs.

The homebuilding industry may have to become more aggressive in attracting workers at vocational schools and job training programs.

"There are a bunch of young people out there who would be interested," adds Pusateri, "2,200 attended career construction days last year, I wish that number was twice that, but going forward maybe we could recruit more people who would do it."

A strong resurgence in the homebuilding industry would be good for many other industries.New homes need new appliances and that would mean more business for GE's Appliance Park.

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