John Zirbes introduced our speaker Chris Contreras, President of the Builders Association of Minnesota. His Association is a collaboration of all 13 local associations across Minnesota. Chris provided us with information about the positive effect of the residential construction industry in the USA and in our state. Each new home built provides 3 people with a job, and the new home market and related services contribute 13% to the U.S. economy. When the economic crash occurred, the housing industry found it hard to accept and adapt, but the intervening 8 years have brought moderate recovery. Chris shared his thoughts about changes in buying patterns and cycles, minority race ownership, the slow rise of de-valued homes, and the need for a diverse set of products offered by home builders. In Minnesota, the median existing home price is $190,000, and the median new home sells for $375,000.
To contact Chris at his day job as Vice President of Sales + Marketing at Ryland Homes: phone 952-229-6021; email [email protected]