New housing construction remains strong in the Peach State despite quarterly interest rate hikes in the past year. Local experts say it’s a sign the economy is doing well.
Johnny and Bonnie Ard are in the market for a new house. They, like thousands of other prospective home buyers, want to settle in south Georgia. They say Valdosta is a perfect fit.
"This neighborhood and most of the neighborhoods we've looked at are not real big and yet not real small, and it’s a good place to have a family," said Johnny Ard, who is moving to Valdosta.
Real estate agents say families like the Ards are contributing to metro Valdosta's housing boom.
"So far this year, according to our multiple listing service; we have had 441 homes sold already this year in the Valdosta area," added Rej Joyner with Joyner Realty.
Realtors say the number of new homes in the Valdosta area is doubling every year. Some say it’s a result of many Floridians looking to relocate across the border.
"They’re selling their property in Florida to developers and they’re moving up here. They're getting really good prices down there and land is cheaper here, so they’re collecting their dime here," said Sue Tyner, a Coldwell Banker Realtor.
And with interest rates hovering around six percent and relatively low price tags on new homes in the area, brokers say south Georgia is growing by leaps and bounds.
Brokers say more than 275 new homes have been built this year in Valdosta and 540 total homes are currently on the market.