New Home Building Increases for 5th Consecutive Month

I was delighted to read in the August 19, 2009 Business Section of the Knoxville News Sentinel that new home building is up. Through sources at Associated Press in Washington, the Commerce Department reported July 2009 was the 5th month in a row for increases in single family home construction.  Numbers showed a 2% increase and building permits for future construction climbed almost 6%.  The National Association of Home Builders reports that confidence levels are the highest in July in over a year.  Figures show new construction is up 37% from the bottom this past winter. This news could mean that the housing industry will be helping to improve the national economic output.  Housing has not been a significant contributor in almost 3 1/2 years.

All of this data is good news!  It shows strength in the housing market and could be a signal that the worst of the downturn is over.  Mortgage rates are low on a historical perspective and the $8,000 new home buyer tax credit is still in effect through November of this year.

To be a participant in this improving trend in the housing sector, contact us at The Jason White Team immediately.  See how the real estate professionals of my team can sell your existing real estate in the Great Smoky Mountains or help you to find that perfect home or real estate investment in this beautiful location.