Virginia County Prepares to Exit Housing Slump

Photo of Manufactured HomeFrom Virginia and the Tidewater News, finds a tale about housing woes there. One builder quoted in the article says he went an entire year without a housing start. The article confirms, Southampton County experienced a 15-year low for new-home starts in 2011. To date 2011 had just 39 building permits compared to 164 in 2005. Of the 39 homes permitted in 2011, 22 were of stick construction or modular homes worth a total of $4.4 million. The average home cost $202,153. Another 16 permits were obtained for manufactured homes, what the article incorrectly refers to as single- and double-wide “trailers.” The average singlewide cost $14,140 and double-wide, $75,682. A rebound is expected next year.

(Photo Credit: Eric Miller)

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