Higher home prices and higher mortgage rates can only mean one thing. The housing economy is getting stronger. Newsource Reporter Eric Jones gives us the current state of the Athens Housing Market.
You know the old saying–time heals everything–but does that apply to the housing market too? It’s been five years since the housing bubble burst, sending the U.S. economy on a downward spiral. Local economies–including the one in Athens–were not immune.
Jeff Koon is a broker at Carriage House Realty, and he says profit driven home buyers were partly to blame for the downturn.
IN: “It seemed like everyone was buying up..
OUT:…the fundamentals behind it.
Trulia.com reports the average listing price in Athens at just over two hundred thousand dollars–a half percent increase from this time last year.
Even though things are looking better, the economy is by no means ideal. But surprisingly, Tax Comissioner Mitch Snyder says revenues haven’t suffered here in Athens.
IN: “We do feel like…
OUT:…afford to pay their taxes.
And that isn’t the only positive sign for realtors and mortage lenders. Many would agree that the highly anticipated Catipillar Plant Project will increase supply and demand for both jobs and new homes.
IN: “A couple of years ago after the housing market…
OUT:…this scene may not be the case much longer.”
The recent outlook is a refreshing cause for optimisim. An optimism that may be needed for the housing industry to bounce back.
An associate professor of the Terry College of Business adds that the housing market is cyclical, and most of the recent positive effects won’t show up in official numbers for at least a few months.
Duration : 0:1:33
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