Shoppers tour Parade of Homes as housing market rebounds

MENOMONEE FALLS (WITI) -- Those in the market for a new home may be in luck as, nationally, the housing recovery has kicked into high gear.

Over the weekend, the Parade of Homes in Germantown and Menomonee Falls showcased 17 brand new homes with innovative products and technology.

"We are off to our best start since 2007," said David Belman, CEO of Belman Homes. "We've actually seen increased sales."

Belman says home sales are up more than seven percent and that's exciting news for those in the market.

"A couple of years ago, when everything fell apart and the values went down, we kind of backed off and decided we'll just fix up the house we have," said Phillipe Limers.

According to the Zillow Home Value Forecast, home values are expected to rise another five percent over the next year.

"Because inventory has started to go down, that's created an opportunity for new construction," said Belman. "If you want to do it, now is really the best time to build the home."

While the country slowly climbs out of the housing crisis, new construction seems to be feeling the benefits. Belman believes this may be a small indicator that the overall economy is improving.

"Construction is over seventeen percent of national economy, so if construction is strong and we're employing a lot of people, that is really going to boost the economy. If we're building houses, usually the economy is doing well," Belman noted.

As people tour the Parade of Homes, shoppers remain cautiously optimistic.

"I don't think we are out of the groove yet but we're getting there, as long as we keep going steady," said Limers.

The Metropolitan Builders Association Parade of Homes runs through September 8th.