Market for Luxury Homes Strong in Georgia and Around the US, But Covid 19 Presents Risks

Sales of luxury homes--- those priced at $1 million or above-- increased in Georgia and across the US in 2019, spurred partially by a strong economy and lower home mortgage interest rates. Sales of homes valued at $1 million or above increased over 11% in 2019 when compared to a year earlier. Real estate analysts, however, caution that the real estate market as a whole will be negatively impacted, at least temporarily, by the COVID 19 virus as buyers decide to put off searches for new homes.

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