Airbus good news for housing market

MOBILE, Ala. (WALA) - Airbus landing in Mobile could boost the local real estate market.  Real estate agents and homebuilders said the announcement was music to their ears.

Harry Nollen who's 84 years old hopes the Airbus effect trickles down to him.  He's trying to sell his home to move closer to his grandchildren in Iowa.

Nollen worries with the market as it is, it could take some time.

"I figured it would with the market as it is and a lot of foreclosures," said Nollen. "We've had two offers but they were way too low for us. So now, we just wait."

Real Estate Agent Mamun said Nollen may not have to wait long.

Mamun with RE/MAX Partners said the Airbus announcement is a real game changer for the housing market.

He said 2012 was already shaping up to be a better year than 2011 and this seals the deal.

"Absolutely, we have already had people calling me. Not just from Mobile, but out of town people, too. Really changing the game," said Mamun.

Mamun expects most of the growth to move west.

He said existing home sales should go up, as well as new construction.

Lynn Nolen with the Home Builders Association of Mobile thinks it will, too. Nolen said new developments could spring up.

"That's been dead the last two or three years, as far as new subdivisions and development. So we were happy to get a heads up that this is happening," said Nolen. "Construction won't happen for a year so that gives us time to get our plans together and move forward."

All of this is good news to Harry Nollen who's looking to make a move himself.

Construction of the Airbus facility is expected to begin in the summer of 2013.