A 20 Percent Increase in New Home Construction is Good News for Mississippi Home BuildersBy Lawayne Childrey | Published 24 Jul 2012 06:34pm |
The U.S. Census Bureau says home construction is making a slow yet steady comeback. MPB's Lawayne Childrey reports how that bit of good news has some Mississippi Home builders bursting with confidence.
The sounds of hammering, sawing and brick layering are comforting to Ridgeland homebuilder James Smith.Smith is one of thousands of Mississippi home contractors who are excited about the increase in home construction jobs over last year.
"Usually have about what, two or three week gap in between houses. Now it’s like finish one and they have another one ready for you."
Smith says that translates into economic security for he and his family.
"It's not back all the way but it’s not as bad as it was. You do some things that you use to do that you stopped doing. You know going back to movies and out to eat and stuff beside sitting around worrying about what's gonna happen the next week or so."
Officials with the U.S. Census Bureau reports housing starts nationwide rose nearly 24% higher this June than they did last year, making it the highest jump in 4 years. At a construction site Mark Evans, Owner of Artisan Homebuilders in Madison speculates a number of reasons for the increase.
"You know we're still creating young families. And we're still creating empty nesters who are desiring to get out of the big house but yet they still want the same stainless steel appliances, granite counter tops and they can't get those in an existing house."
Bob MaCay, Vice President of the Jackson Home Builders Association says with interest rates in the 3 to 3 and a half % range now is the perfect time to build.
"What I mean by that is houses starting in the 14 hundred range and going up to 18 hundred, anything in that range. They really really did bring us out of the recession. Right now though fortunately we are beginning to see 2000 and up houses and we're beginning to see a good deal of the million dollar homes come back."
McCay says Mississippi is seeing a 20% increase in new home construction. The National Association of Home Builders also reports that builder confidence is at its highest level in 5 years. Lawayne Childrey, MPB News.
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