New construction on the rise - WALB.com, Albany News, Weather, Sports

New construction on the rise

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Andy Cooper, General Contractor Andy Cooper, General Contractor
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ALBANY, GA (WALB) -

The new homes in Quail Valley are part of a growing surge in new construction projects seen around the nation.

The increasing number of new homes has pushed spending on U-S construction projects to their highest levels in four years. And Georgia contractors are finally seeing light at the end of a long tunnel of economic turmoil.

"I am glad to see things growing, I'm very positive about southwest Georgia," said Andy Cooper, a General Contractor.  "I'm from here, it's important to me that it succeeds. But as far as the building industry, I agree with what they're saying, all the talking heads. We definitely are seeing an up-tick."

The numbers of new homes have been increasing because of record low interest rates and great deals on new construction. Cooper says a lack of inventory has also contributed to the increase here in Georgia.

"Existing inventory of houses that are on the market have gone off the market either through selling or some of them have gone into the rental market. But a good many of them sold," said Cooper.

New construction saw an overall increase last year, but this year is expected to see further gains. And some of the people who jumped ship during tough market waters are now trying to get back into the industry.

"But a couple of people that got out of the industry have gotten back into it. I had a plumber that was doing work down at the marine base, and now he's gotten back in to open his business back up because he's got enough business to justify it," said Cooper.

While low mortgage rates and rising hiring numbers have contributed to the increased investment in new construction, Cooper cited rising construction costs as another reason for recent building increases.

He also says he hopes city and county leaders will continue to concentrate on growth and development.

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