Positive outlook for Acadiana home construction - KLFY News 10

Positive outlook for Acadiana home construction

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Homebuilder confidence is the highest it's been in years says one national index. But what does that mean for home buyers in Acadiana?

One home builder we spoke to says it means that folks are coming out of the wood work and spending again, which he says is a good sign for where the local economy is heading. Builder confidence across the United States is at a seven year high this month, which Lafayette Contractor Greg Manuel says he owes to a positive outlook from homebuyers.

"It really had a lot to do with fear consumer confidence or lack of it," said Manuel.

In the years following the recession 09, 10, 11, 12 Manuel says new home construction in Acadiana saw a 25 to 30 percent increase now that consumer confidence has gone up those numbers here nearly doubled.

"This year we are at 61 percent over last year and all we do now is new construction so we know the market is there." said Manuel.

Troy Hebert is a realtor at Van Eaton and Romero in Lafayette and says new construction sales in Acadiana support Manuel's increase in business and the National Association of Home Builders Index showing a six point jump in home builder confidence.

"New construction sales reported in the MLS are 34 percent from last year." said Hebert.

But the Association of Home Builders also cautioned that the uptick could turn into a downturn from "threats on the policy side, particularly with regard to the mortgage interest deduction and federal support of the housing finance system."

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