Local housing still thriving - WALB.com, South Georgia News, Weather, Sports

Local housing still thriving

November 3, 2006

Albany-- The real estate market has slowed nationally, but in some markets the trend continues to be full speed ahead. Here in Southwest Georgia new homes are still being built at a brisk pace, as home ownership continues a record pace.

Local realtors say Southwest Georgia has several factors working in its favor to support even more housing development to come.

"Southwest Georgia is growing at a record pace, as you said nationally the real estate market is down, but we have so much going for us in Southwest Georgia. Our land costs are so much lower, our cost of living is so much lower and our school systems are getting a lot better" said local Realtor Ralph Paustian.  

In the second quarter of 2006, builders took out permits for one point nine million new housing units nationwide. The number of permits is ten percent below the first quarter of 2006 and eleven percent below the second quarter of 2005.  

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