Bright spot for builders can signal better economy

SPRINGFIELD, Mo. -- By the end of the week, Tootie Britton will get the keys to her dream home. The great-grandmother proudly guided her family through the empty rooms, highlighting the granite countertops and stainless steel appliances.

"It has anything that anybody would ever want. It's just gorgeous and everything I want," said Britton with a smile. "I'm real excited because it's so beautiful. I'm moving out because the other one had steps and I had fallen. And I want this one because it is on the flat ground. But it's so beautiful."

"I build houses," Ballard said with a grin as three coworkers hammered around him. "Grateful I'm working every day! Especially when the market crashed."

Contractors remember the recession, when home building all but stalled.

"We've had our months, we've worked great for two or three months and then there is a month where we don't do anything," said Ballard.

In 2007, the housing bubble burst. In almost an instant, contractors had no work, homeowners couldn't sell their homes, and the term "underwater" meant more than a dive in a swimming pool.

"I think Springfield was definitely hard hit. But we've asked for it. I mean there were so many people building. It was uncontrolled. Now it's kind of balanced out. The people who are decent and kept their name up stayed busy," said Ballard.

Developers and builders in the Ozarks and across the country have gotten back to work. In September, builders broke ground on 15 percent more homes than in August. According to a report by the Commerce Department, groundbreakings for single-family homes went up 11 percent, the highest rise since 2008. In that same time, multi-family homes, such as apartment buildings, rose 25 percent.

Keaton Reed is part of Reed Properties, a real estate development and property management company based in Springfield. Reed said his family's owned and operated business started new developments for a more niche market.

"In the last couple of years, we've seen a large demand for independent retirement senior living. As the aging population, the baby boomers, are starting to retire, they want a maintenance free place to live at low cost," Reed said. "That's what we have here. River Oaks Retirement Community. We're working on these 31 houses right now and we just finished up a commercial development. So we've been extremely busy the last few months."

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Bright spot for builders can signal better economy