Consumers more confident about buying, selling homes -, GA News Weather & Sports

Consumers more confident about buying, selling homes

(WTVM) -

We have some good news dealing with the economy.

Americans are a lot more confident when it comes to buying and selling homes and that's a big difference in attitude from a few years ago.

Miles Jordan felt so confident he put his house on the market, bought another one and started his own car dealership business all at the same time.

"I think everyone should have more confidence in purchasing a home," Jordan said. "I took some chances and so far it's been a great decision."

Jordan explained he took a leap of faith opening Autosouth Pre-owned Superstore because of the improving economy.

"I think the economy has seen a low point and it's back on the rise and I think there are plenty of people that have more confidence," Jordan commented.

A new report proves just that.

The consumer confidence index jumped in May to a five year high to 76.2, which is the best number since February 2008.

Walter Calhoun of Flournoy and Calhoun Realtors said he's not surprised things are looking up.

"It's taken some time but I think people finally feel like hey it's a safe investment," Calhoun said.

Columbus didn't fall as hard as other states with the housing market but Calhoun said it's making a comeback too.

"New construction still does well places northeast Columbus, the panhandle and even Alabama so that's definitely a hot spot, but you also have areas like Lakebottom and Midtown overlook that have the 1930's high ceiling charming homes. Those still do really well," said Calhoun.

There is still a challenge for homeowners.

Prices have soared 12.1 percent in April from a year earlier, which is the biggest gain since 2006.

Now, even though more people are buying homes, they are more expensive at times and fewer homes are available.

Calhoun said buy a home now before interest rates creep back up.

"Well you know the feds said interest rates are going to stay where they are for a year, so people didn't feel the need but now the interest rates are ticking up and they are saying you know what I better buy one," Calhoun said.

Calhoun claimed he doesn't see the rates going down anytime soon.

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