Georiga Home Sales Up in May; Is Recovery From Covid 19 Slowdown Underway?

In yet another sign that the housing market in Georgia and around the US is beginning to recover from the Covid 19 slowdown, mortgage inquiries on new home purchases were up nearly 11% in May when compared to a year earlier. In addition, single family home sales were up over 26% when compared to April. Real estate experts say that pent up demand is behind the increases. Although inventory levels remain low and demand is getting higher, the average new home loan size dropped $1,848 to $332,793 in May.

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