July New Housing Starts Down Nearly 10%

The number of new home starts by Georgia home builders fell nearly 10% in July when compared to a month earlier, another sign that the residential housing market is beginning to slow across the country.  Higher home mortgage rates have decreased affordability, leading many prospective home buyers to leave the market.  Atlanta area real estate experts, however, do not expect the local real estate market to slow significantly in the coming months because demand for homes remains strong.  In addition, the supply of available homes in the Atlanta area remains low.  Home mortgage interest rates, while higher than in recent years, remain historically low as well.

Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.481.0052 to discuss your purchase or refinance home mortgage needs.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.