Northern Michigan site and modular home builders have begun prioritizing the construction of higher value homes to gain more profit due to the market driven pandemic.
But the area lacks housing for moderate-income buyers, such as the very workers who will build those high-end homes.
Some home builders in resort areas of Michigan are booked out for two years ahead and they are not even talking with new clients.
The average price for homes statewide is about $210,000 but the average price is quite different in Northern Michigan where the average has climbed as high as $425,000 in some resort towns.
The coronavirus pandemic and statewide lockdown created a reverse trend of moving people from urban areas to rural areas as they adapted to work remotely with many of them looking for homes in the $400,000 to $900,000 range!
There is a definite need for more new home builders in Northern Michigan but with a lack of affordable housing for skilled labor, the outlook for the area continues to look like it will continue to be a builder’s market!