Rio Rancho new home construction on the rise
Posted at: 05/01/2013 4:45 PM
| Updated at: 05/01/2013 6:14 PM
By: Stuart Dyson, KOB Eyewitness News 4
New home construction remains flat in the Albuquerque area – with one area of prosperity and promise: Rio Rancho.
In some areas of the “City of Vision” power saws and framing hammers and boomboxes pumping out music can be heard – they're the sounds of progress.
Rio Rancho has issued 134 building permits in the first quarter of the year, a 63 percent increase over last year at this time. They’re building, and people are buying.
“We do have a new home,” smiles Renee Smith, who recently moved into a new Pulte home in the Loma Colorado development. “We love Loma Colorado, mainly for families and all the parks and it’s just a beautiful place to live!”
Home construction means good jobs that pay well, the kind that evaporated by the thousands in the recession.
Albuquerque’s first quarter was down a little from last year, with 214 new home permits, but builders take the long view.
“I think that’s really the trend that we’re focused on, that I think we’ve turned the corner,” said Jim Folkman of the Home Builders Association of Central New Mexico. “ 2012 was certainly better than 2011 and we think ultimately that 2013 will be better than 2012. It just may take awhile to unfold.”
Statewide foreclosures were down last month. The rate is about 4 percent, but that’s still the highest in the region.