South GA homebuilders optimistic about housing market - WALB.com, Albany News, Weather, Sports

South GA homebuilders optimistic about housing market

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Contractors and realtors are optimistic about the housing market Contractors and realtors are optimistic about the housing market
Marcus Fletcher, a homebuilder in Lee County says business is slowly picking up Marcus Fletcher, a homebuilder in Lee County says business is slowly picking up
LEE COUNTY, GA (WALB) -

Homebuilders across the country are seeing a boom in business.

South Georgia is seeing slower growth than other markets, but contractors and realtors are optimistic.

Marcus Fletcher, a homebuilder in Lee County says business is slowly picking up.

"In the last 45 days our traffic has really increased through our sales office," says Fletcher.

The nationwide trend is seeing an even bigger boost. In a new report, the National Association of Home Builders says builders confidence for newly built, single-family homes rose to 57 points on the housing market index.

That's the strongest reading since before the housing market crashed.

"The low mortgage rates are helping people that want to apply for mortgages, [and] want to buy new homes. So they're starting to get back into the market and they're starting to buy homes now," says Fletcher.

Preliminary numbers show the housing market index is up for all regions across the United States, with the south seeing the smallest gain, two points, from June to July.

Fletcher says while more buyers are walking through his doors, South Georgia is still lagging behind more populated areas.

"It takes a little bit of time for the smaller markets to catch up with the larger markets," notes Fletcher. So when they flattened out we were still going pretty steady and then we started flattening out as they started rising back up. So now that they're rising back up, we're optimistic that things are going to come back up in the next three to four months."

He advises anyone looking to buy a home to take advantage of low interest rates while still available.

"Rates are beginning to rise just a little bit; they're going up and down," says Fletcher. "Anytime that they start to rise up and down, it's a good indicator to go ahead and make a move if you are wanting to buy a new home."

He says the national projections show an increase in sales for the last two quarters of the year, and that's something homebuilders are looking forward to.

Experts say steady job growth, low mortgage rates, and rising home prices have helped the housing market recover this year.

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