Single-family home sales rose in March, according to the Department of Commerce. Now, local developers are hoping the trend continues in Michiana.
A speculation house is under construction at the Wintergreen Meadows in New Carlisle, Ind. The project is something the subdivision’s developer has not seen in years.
“During the market crash, many stopped building spec houses because the market wasn’t there,” said Steve Cooreman, president of Cooreman Properties.
Now, Cooreman is seeing the most sales activity since 2008.
“We are very excited about where the market is going,” he said.
Many of the lots within the subdivision are no longer empty. Cooreman said his company is planning on expanding in the small town.
“We are getting ready to open a new neighborhood,” Cooreman said. “It will be a real affordable alternative.”
The New Carlisle Town Board hopes to see more developers, like Cooreman, moving into town.
There are efforts in the works to beautify parks and improve infrastructure in order to lure more investors, according to town board president Ron Colpitts.
And, a local government with an eye on growth is key for Cooreman.
“We very much like working with the town of New Carlisle,” Cooreman said.