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Q&A: City Manager Pam Reece on the homebuilding outlook for 2023

Pam Reece
Courtesy
/
Town of Normal
Normal City Manager Pam Reece

Interest rates are up significantly, and as homebuilders look at the approaching spring construction season, they will be faced with choices on how to finance construction and how long they think they'll have to wait before they can sell a new housing unit.

Normal City Manager Pam Reece says the rate increases have slowed the construction market. But in this interview with Charlie Schlenker, Reece says the hikes have not stopped construction plans. Listen to the full interview above.

WGLT Senior Reporter Charlie Schlenker has spent more than three award-winning decades in radio. He lives in Normal with his family.