Home Prices Increase Nearly 8% In October, Largest Increase in Six Years
Home prices across the US, including Georgia, rose nearly 8% in October when compared to a year earlier, the largest annual increase in over six years. Strong demand fueled by record low home mortgage interest rates and an inventory shortage contributed to the increase. Local real estate analysts in the Atlanta area say that the ongoing Covid 19 pandemic has increased demand as buyers seek out larger homes with room for home offices and dedicated space for online schooling.
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