Mungo Homes Bucks Housing Trends in 2009

Columbia, SC. - Mungo Homes is pleased to announce a 16.5% increase in sales in 2009. Although the housing market remains in a recession and building permits in Columbia were down 52% last year, Mungo reports flat numbers for permits pulled but is pleased with the significant increase in sales.

According to Mungo Homes’ Division President Chris Condon, “Mungo is apparently delivering what today’s homebuyer is looking for in terms of product, location and price point. And since we’ve been in business for 55 years, we enjoy a sense of stability and purchasing power that few other builders can match—I’m sure that gives our buyers peace of mind.”

Mungo executives also attribute, in part, the increase in sales to the Federal tax credit for first time buyers, and are optimistic that the deadline extension as well as the availability of a tax credit for current homeowners will bolster the market at least through the first half of 2010.

The Mungo family has been building new homes and communities in the Midlands since 1954. With the philosophy of quality, value and integrity, Mungo was recently named the 38th largest builder in the country and is the only builder in South Carolina ever honored with the prestigious National Housing Quality Award.