New York Construction Company Says Home Sales Are On the Rise

Arc III Construction Corp., a Brooklyn-based construction firm offering high-end renovation and construction management services in the New York area, says that home sales have jumped, thanks to a recent tax credit.

According to Alex Chiesi, president and founder of Arc III Construction Corp., a full service design, remodeling, and construction firm that specializes in the renovation and new construction of both residential and commercial buildings throughout New York City, the new home buyer tax credit and increased economic optimism has resulted in improvements to the housing market.

“According to recent reports, sales of new homes rose in March to their highest levels since last summer,” says Chiesi. “Overall, the sales of new single-family houses in March were up nearly 27 percent, which exceeded expectations.”

Chiesi says that this is good news for the construction industry and the economy as a whole. Housing is a bargain again, he explains, noting that this is a sign that the market is strengthening.

“Reports have also shown that the sales of previously owned homes also exceeded expectations, rising 6.8 percent,” says Chiesi. “The monthly rise in sales of new homes was the biggest since April 1963, when it was 31.2 percent. Many economists believe that these figures show that buyers are taking advantage of an $8,000 government tax credit that was scheduled to expire at the end of this month.”

Chiesi says that it is not just the tax credit that has spurred the rise, however, noting that he believes an increase in builder optimism has also helped push sales.

“I expect continued improvement within the construction industry,” says Chiesi. “Builders are running extremely lean in terms of inventories and this news is going to give many builders the confidence they need to start constructing new homes again.”

Arc III Construction is a multi-disciplined New York construction management and engineering firm specializing in project planning, risk management, program management, project due diligence, construction management, critical path method scheduling, schedule delay analysis, construction cost estimating, construction claims, quantification of damages, defect evaluation & analysis, and construction training. Incorporated in 1995 as a residential contractor, ARC III Construction has grown to become one of New York City's finest general and finish contractors offering custom furniture, millwork, and high-end renovation services. For more information call 917-547-1728 or visit www. arc3construction.com.

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