New home starts rise in the Ozarks outlook optimistic for 2012 and beyond New home starts are up 7% over 2011. August 07, 2012|by Jay Scherder, KY3 News | email@example.com
SPRINGFIELD, Mo. -- There is some encouraging news for the housing market. According to the latest government data, new-home starts are at their highest levels since 2008.
That trend is ringing true in the Ozarks as well. The building peak in 2005 brought more than 5,000 new home permits to the Ozarks. In 2011, there were only 850. It is unlikely we will see 2005-type growth any time soon, but there is good reason to be optimistic.
"When our bubble burst, it didn't burst nearly as badly as a lot of places," said Homebuilders Association of Greater Springfield Chief Executive Officer Matt Morrow.
For a lot of builders and contractors it still hurt badly enough.
"Our number of housing starts has dropped dramatically in the last 5 years. We think we've hit the bottom," Morrow said.