Figures released in mid-February from the National Association of Realtors show home values are up .3 percent compared to a year ago. And while .3 is almost a standstill, it shows the market still has a pulse. If you listen to experts, the region could soon get a shot in the arm as builders are seeing more and more foot traffic in new developments. At the same time those in the mortage business are seeing a surge in the number of people who are pre-qualifying for mortgages.
It all sounds promising, but the numbers can't improve fast enough as peripheral industries are taking a hard hit. Just ask B.J. Alston who helps with home additions. Perched on an A-frame ladder, his shots from a staple gun seem to punctuate his thoughts as Alston installed fiberglass insulation. Business was booming just a few years ago, but today jobs are few and far between. Alston still has a roof over his head, and can pay his bills thanks to pick up jobs cutting grass and washing cars. " I'm at the point where I am behind in a lot of things, trying to catch up, trying to catch up", said Alston.
His story is not unique, thousands of skilled workers across the region are feeling the pinch from the real estate slowdown.
To learn more about the effects of the real estate ripple, watch 13 news at 6:00, Thursday February 21st. My report will show you how every neighborhood is affected by the slowdown, and whether the market will improve before the end of the year.