August Home Sales Increase in Georgia and Across US May be Short Lived
Sales of new homes in Georgia and across the rest of the country were up nearly 29 percent in August, following a decline of nearly 13 percent during the month of July. Local Atlanta area real estate experts, however, caution that the increase in sales will likely be short-lived and may be due, in part, to a temporary reduction in home mortgage interest rates during that time period. 30 year home mortgage interest rates, while still historically low, have increased to the 6% range in recent months. Home builders, meanwhile, continue to deal with material shortages and increasing costs, further increasing the price of new housing.
Peachtree Mortgage Services, Inc. offers most home mortgage loan products in the Atlanta area and across the state of Georgia. Contact us at peachmtg@bellsouth.net or 770.481.0052 to discuss your new home purchase or cash-out refinance loan needs.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.