What Downturn? Building Rebounds

Everywhere you turn, you hear and see negative news on the housing market. The latest S&P Case-Shiller housing index report says national home prices hit a new low in the first quarter of 2011, dropping 4.2 percent, after dropping 3.6 percent in the last quarter in 2010. Nineteen of the largest 20 housing markets fell compared to the same time last year, and prices in Atlanta have now dropped below their January, 2000 levels.

Forsyth County just might be one of the few bright spots on the housing market map.

“We’re seeing a lot of activity, more so than last year,” says Steve Baker, Building Official for Forsyth County. 

Some builders are clamoring to put up homes in new neighborhoods that went stagnant in the downturn. The builder Ashton Woods has gotten permits for 18 homes in the last three months in the James Creek subdivision (see story).

“I can’t really complain. It’s good,” says Jenny Conder, Onsite Sales Manager for Ashton Woods at James Creek.

And they’re not alone. Other builders are in double-digit numbers for home building in the first quarter, from December 31 through March 31. Champions Run subdivision added 25 new homes in that time period, and Hopewell Manor added 18.

“Based on the numbers we are (doing well)”, says Baker. “I talked to a supplier just this morning and he said the last couple weeks he’s really been covered up.”

According to the county, the number of home inspections is on the rise, but only slightly; about 250 more have been completed this year compared to last.

Baker says numbers for last year might be inflated, though, due to unfinished homes coming into the foreclosure market, getting inspected, and then having to be re-inspected once a builder continued the project.

He says it seems that banks are lending to builders again, and he’s more optimistic about housing this summer, since it's typically a busier time of year for builders. 

Jenny Conder agrees, “I would think it’s going to pick up. Pricing is adjusted at this point. It took the last year, but...pricing is not getting any lower. And we’re not focused on putting the biggest home out there for the money. People are smart and they want quality over quantity now. They want a more efficient, healthier, more comfortable home. People know now and they’re moving forward. We are doing very well.”