Housing Market Recovering In Kokomo

The number of new home construction permits issued in Kokomo has more than doubled over the first nine months of the year up from only six permits last year.

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Photo: Gretchen Frazee/WFIU-WTIU News

The rise in the number of construction permits in Kokomo could be a sign the city is recovering from the recession.

The number of new home construction permits issued in Kokomo has more than doubled over the first nine months of the year. The city has issued 16 new housing permits in 2012, up from just six at the same time a year ago.

Kokomo-Howard County Plan Commission Director Greg Sheline says he thinks it is a sign residents are finally beginning to believe the city is emerging from the depths of the recession.

“I think that’s just a sense of people in our community anyway where things are  starting to pick up,” Sheline says. “And I think they will feel a little more comfortable putting some money back into their business and their homes that two or three years ago they weren’t that comfortable with.”

Hallmark Homes Purchasing Manager John Breckenridge says the speed up in the housing market has allowed his firm to add workers. But despite the positive signs, Breckenridge says he’s still wary of the future.

“It’s just depending on the combination of a lot of factors,” Breckenridge says. “It’s continuing employment, the economy, banks, loaning of money to new home customers.”

Sheline says most of the new houses are being built on the edges of the city.

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