NEWS: July 2012- Jackson, Mississippi Listed Among  84 Improving Housing Markets in July 2012

Jackson, Mississippi is among 84 metros listed by the National Association of Home Builders/First American Improving Markets Index (IMI), released in July.

This is positive news for Jackson home builders and buyers. This is reflected in the experience of Americas Home Place builders and customers in the Jackson, MS as well from survey results cited below.

Jackson and 83 other U.S. metropolitan areas showed "measurable and sustained improvement" from its lowest points in the housing permits issued, improvement in employment and house prices for at least six consecutive months.

"The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy," added NAHB Chief Economist David Crowe. "This is evidence that the housing recovery is slowly but surely taking root, one market at a time."

The inclusion of Jackson Mississippi in the IMI reflects how area residents are taking advantage of a rare window of opportunity to build now.

Surveys from customers building with Americas Home Place in Jackson, reflect the top 5 reasons for the Jackson’s building recovery:

Low interest rates: As of now 30-year fixed rates and 15 -year rates are among the lowest rates in the past 40 years.

Building before material costs rise: While material costs may be rising in some markets, supply remains good, keeping them relatively affordable. Many families are choosing to build now, before rising energy costs affect the price of materials.

More competent, trust-worthy builders: During the height of the housing bubble, many metro areas faced shortages of competent builders and support people. Tough times winnowed out a lot of marginally qualified people. Arguably, the competent builders of integrity weathered the housing slump and in today’s market can be very selective about the sub-contractors they hire. This reduces build times and interest on construction loans, which is attractive to customers.

Land, Lots of Land: In boom times, developers monopolized the best lots, driving up costs and leaving scattered-site builders and home buyers to fight over their leavings. Now, many large-volume development builders and aren’t liquid enough to make land investments. That means that land prices, choice and availability are at their best rates in years.

Demand Will Outstrip Existing Inventory: The construction of new homes is on the rise because of enormous demographic shifts in the United States. This could be the biggest incentive to build now. New families are being formed in the U.S. at paces that exceed both the current inventory of existing homes and new homes being built to accommodate them. Current projections show a need for new homes will increase dramatically as the decade matures.

Americas Home Place in Jackson, Mississippi currently builds new custom homes in Hinds, Rankin, Madison, Copiah, Attala, Leake, Neshoba, Scott, Smith, Simpson, Newton, Lincoln, Claiborne Jefferson, Holmes, Lawrence, and Covington counties.

NEWS: July 2012- Positive Economic Signs Restore Confidence to Buyers of New Custom Homes in Hattiesburg, Mississippi and Throughout the State

Nationally, reports of a sluggish economy have done much to sap the confidence of people who may have been planning, but have postponed their decision, to build a new custom home.

But a recent report on the economic conditions in and around Hattiesburg, Mississippi, should give would be-buyers of new custom built homes a vote of confidence to move forward with their plans.

In an interview with Gannet’s Hattiesburg American, Carol Downing, president of the Hattiesburg Area Association of Realtors, provides insight into her group’s local market.

Downing said home buyers and those building customs homes in and around Hattiesburg are taking advantage of great prices and record low interest rates.

“Because [Hattiesburg] is smack in the middle of one of Mississippi's fastest-growing areas, we, of course, haven't been as greatly affected by the depressed economic situation as some of the other areas in our state,” said Downing in the interview with La Tonya Frelix. “We are blessed with diverse industry, great medical facilities, incomparable educational institutions, programs for the arts, and beautiful recreational areas.”

Downing says the Hattiesburg market should become even stronger as 2012 advances. In addition to “speculative building, people are taking advantage of unprecedented low interest rates to custom build their homes,” she stated.

Compared to the national market, Downing said “there has been no comparison” to the Hattiesburg, Mississippi area.

“We are seeing some foreclosures in our area,” she explained. But “our strong economy and jobs availability have assured that we have fared extremely well as compared to other areas in both our state and our country.”

Downing made a further case for the attractiveness of the Pine Belt area that should ring true for those seeking to build custom homes on their own land and lots. “We have a strong economy, affordable housing, fabulous educational opportunities, beautiful recreational areas, and, of course, the good weather that allows for a 10-month golf season. Our proximity to Mobile, New Orleans, and Jackson, and beautiful beaches is an advantage. But ... most of all, we have good people in the Pine Belt!”

The article should go a long way toward encouraging those “on the fence” about building their new custom home in the Hattiesburg-area to feel more confident and take advantage of the benefits of record low financing and pricing incentives offered by motivated builders.

Americas Home Place builds new custom homes in the Pine Belt-area and throughout the state. The company has custom home design centers in Hattiesburg, Jackson and Tupelo.