Low Interest Rates Fuel Housing Boom - WLOX.com - The News for South Mississippi

06/27/05

Low Interest Rates Fuel Housing Boom

South Mississippi home builders are all smiles this summer. A strong coast economy and low interest rates are driving a residential building boom.

Not even the fastest nail guns can keep pace with the demand for new homes this summer. The crew from K&S Construction has all the home building work it can handle.

"We get a lot of calls from individuals wanting us to build houses for them. But we're so busy with contractors that we can't even take them," said company owner Glenn Emerson.

For K&S Construction, this summer is on it's way to surpassing the busy season of a year ago. Demand is peaking, along with the temperature.

"Unfortunately, yeah. The summer's usually the busiest time. The hottest time of the year. And we are very busy," said worker Greg Ankerson.

Annie Martin is showing model homes to plenty of potential buyers this summer. Low interest rates are convincing many customers it's the right time to invest in a new home.

"With the lower interest rates, people can buy a bigger house for less money. So those people who were on the brink of being able to come into a house, can now purchase a home," said Martin, who sells homes for "Infinity Homes".

Home builders told WLOX News they're confident the market will stay strong beyond this summer. Along with favorable interest rates, coast casino construction and the condominium boom are also helping fuel the housing market in South Mississippi.

The owner of K&S construction admits the housing bubble could burst. That's why he's keeping the nail guns as busy as possible.

"We try to do good work and hope that when it does slow down, we'll still be busy," said Emerson.

The coast housing boom reflects the strong market nationwide. Across America, new home sales last month climbed to the second highest level on record.

By Steve Phillips

  • NEWSMore>>

  • Gulfport's Centennial Plaza preparing for Bicentennial party

    Gulfport's Centennial Plaza preparing for Bicentennial party

    Monday, March 27 2017 6:44 PM EDT2017-03-27 22:44:23 GMT
    The coast is getting ready to host the southern leg of the state's Bicentennial Celebration this weekend in Gulfport. (Photo source: WLOX)The coast is getting ready to host the southern leg of the state's Bicentennial Celebration this weekend in Gulfport. (Photo source: WLOX)

    The coast is getting ready to host the southern leg of the state's Bicentennial Celebration this weekend in Gulfport.

    More >>

    The coast is getting ready to host the southern leg of the state's Bicentennial Celebration this weekend in Gulfport.

    More >>
  • Home renovation reveals 'hidden house' in Ocean Springs

    Home renovation reveals 'hidden house' in Ocean Springs

    Monday, March 27 2017 6:27 PM EDT2017-03-27 22:27:41 GMT
    Real estate developer Karen Bryant is uncovering history as she moves forward with a home renovation project on Iberville Drive in Ocean Springs. (Photo source: WLOX)Real estate developer Karen Bryant is uncovering history as she moves forward with a home renovation project on Iberville Drive in Ocean Springs. (Photo source: WLOX)

    Real estate developer Karen Bryant is uncovering history as she moves forward with a home renovation project on Iberville Drive in Ocean Springs. She discovered a "house within a house" when she began gutting the structure.

    More >>

    Real estate developer Karen Bryant is uncovering history as she moves forward with a home renovation project on Iberville Drive in Ocean Springs. She discovered a "house within a house" when she began gutting the structure.

    More >>
  • Coast Electric CEO retiring after 42-year career

    Coast Electric CEO retiring after 42-year career

    Monday, March 27 2017 6:08 PM EDT2017-03-27 22:08:22 GMT
    Robert “Bob” Occhi (Photo source: Coast Electric Power Associationj)Robert “Bob” Occhi (Photo source: Coast Electric Power Associationj)

    Robert “Bob” Occhi, President and CEO of Coast Electric Power Association, is retiring at the end of the week after spending more than 40 years with the cooperative.

    More >>

    Robert “Bob” Occhi, President and CEO of Coast Electric Power Association, is retiring at the end of the week after spending more than 40 years with the cooperative.

    More >>
Powered by Frankly