Prices of 'Affordable' Homes Rising Quickly in US, Georgia
Prices of 'affordable' homes-- those homes priced in the lowest third of the housing market-- are rising faster than more expensive properties in Georgia and around the US. Prices of homes in the lowest-priced third of the market have increased over 5% during the past several months, while prices of the most expensive homes have risen only 2%. Real estate analysts cite higher demand as more buyers re-enter the market after delaying home purchases in the spring due to the Covid 19 pandemic. Additionally, a long-standing housing shortage continues in many parts of the country, and low home mortgage interest rates continue to attract even more buyers to the market.
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