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Georgia Home Prices Rise in December
16 Jan 2019 -

Georgia once again mirrors national trends, with home prices increasing in most markets in December, but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019.

A fourth interest rate hike by the Federal Reserve in 2018 spooked the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer. 

Georgia indicators are as follows:

  • New Listings decreased 0.5 percent to 8,216. 
  • Pending Sales were down 0.4 percent to 7,292. 
  • Inventory levels grew 2.2 percent to 33,959 units.
  • Median Sales Price increased 4.6 percent to $215,000. 
  • Days on Market was down 9.8 percent to 55 days. 
  • Absorption rates were even with last year as Months Supply of Inventory remained flat at 3.2 months.
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