NEWS: July 2012-
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
home builders and buyers. This is reflected in the experience of Americas Home Place
builders and customers in the
MS as well from survey results
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
"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.
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
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.
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
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
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