Home construction booming in E. Texas
TYLER, TX (KLTV) - If you're building a house in East Texas you're not alone.
Home building figures just released show that construction in Tyler and other East Texas metropolitan areas is on the rise despite a national dip in building.
Looking around East Texas and one will notice a rising number construction sites for future homes, and
that translates into a positive economic outlook for cities and even businesses in the region.
Tom Mullins of the Tyler Economic Council said Tyler and other parts of East Texas are going against some national trends which have limited home building growth.
He adds for example, Smith county has experienced steady percentage increases of home construction since recovery from the 2008 economic recession.
"We have a lot of ways to stimulate a growing economy and when you have that you don't experience the extreme peaks and valleys that other parts of the world or other parts of the U.S. might," Mullins said.
Builder john McKinney said he's watched areas south of Tyler grow significantly over the last few years, and that outskirt areas of several east Texas cities are experiencing the same. McKinney points to D
epartment of Commerce data which shows that in 2014, Texas recorded several hundred thousand more building permits issued than other large states such as California and Florida.
"People can find a piece of property maybe or a lot that's a little bit larger for a little bit less money and still be able to build the size of home they want to build for a little bit less money," McKinney said.
Mullins said the growth in construction is an indicator for how well the economy is doing as well as what the future might bring to the area.
"Some other sort of building it provides a lot high skill jobs it pumps a lot of money into the local community so it's a very important part of the economy," Mullins said.
McKinney said as for the future of home building in East Texas, all signs point to the steady growth lasting quite a while.
"We perceive it that it's going to continue for at least the rest of 2015 like we were discussing Texas is a great place to move in Tyler especially and the East Texas area," McKinney said.
McKinney adds that interest rates staying low are another reason that helps new home construction. Mullins said the construction growth seen around larger cities in east texas starts to level-off if looking at more rural areas.
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