“Is the housing market going to crash in Georgia?” this is a question you may have on your mind. The state has seen a steady rise in home sales and price appreciation over the last year, but some economists say this is just temporary. Home prices in Georgia remain high because of a variety of factors, including home affordability and low mortgage rates. However, there are certain warning signs that you should be aware of if you plan on buying a home.
In Georgia, there are many reasons to invest in the state. The state is ranked as one of the best places to live in the nation with affordable housing prices and low taxes. Currently, the median price of a home in Georgia is $231,000, up from $226,000 one year ago. Home sales in the state have increased by nearly 21 percent over that time, according to data compiled by the Georgia Association of Realtors. Meanwhile, the number of homes on the market has decreased by 30%, meaning that there is less inventory to sell.
Another reason why Atlanta’s real estate market remains hot is because of low inventory and a lack of available homes for sale. However, this situation could be either positive or negative, depending on your point of view. The housing market in Georgia has a low inventory and is likely to remain that way until the current market conditions improve.
BobJ 