Is 2012 the 'bounce back' year?

Source: ABC30

FRESNO, California (KFSN) -- The first four months of 2012 is proving to be a bounce back year for local home builders. There are new communities springing up everywhere and they're not all the same type of home.

Granville Homes is in the midst of building four new communities in Fresno County. In the first quarter alone, the company is seeing a 70-percent spike in home sales compared to this time last year.

Granville Homes President, Darius Assemi told Action News, "Most of our communities are almost sold out. So much that we're concerned that we're going to have a shortage of lots in the Fresno area."

Granville isn't the only one busy building homes left and right.

Wilson Homes is in the middle of creating two new communities on Herndon and Valentine which include both urban style housing and the single family home that are the most popular in the Valley.

While these are just two examples of projects in full swing -- the building industry association says there are dozens of other permits being approved to start new ones.

"We're going to have a better year for building new construction in 2012 than we had in 2011," said Mike Prandini. "But that's not saying a lot because was such a bad year."

Mike Prandini doesn't share the same enthusiasm as Granville Homes. But he's hearing that the number of re-sale homes are declining -- resulting in an increase of bids for home ownership. "We're looking at and hoping to get a 1,000 units or more this year in the Fresno/Clovis area. Last year we had less than a 1,000 so."

We're not even half-way through the year -- but already there are encoring signs that the housing market will bounce back in a big way.

"There are a lot of folks that are ready to buy or have been ready to buy for the last few years. They just wanted to make sure they're investing their dollars wisely in an economy that's on its way up."

URL to original article: http://abclocal.go.com/kfsn/story?section=news/business&id=8625721

For further information on Fresno Real Estate check: http://www.londonproperties.com