Number of homes sold are up in May - WALB.com, Albany News, Weather, Sports

Number of homes sold are up in May

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By Delivrine Registre - bio | email

June 29, 2008

ALBANY, GA (WALB) - Sales of previously owned homes are up in May from a record low in April. Re-sales increased two percent which shows that lower home prices are luring buyers back into the market.

The average price of homes dropped 6.3 percent in May from last year, going from around $222,000 to a little more than $206,000. The steady foot traffic during this open house in Albany shows that despite the housing slump South Georgians still want to become homeowners.

"In May we sold 10 houses in '08 less than we did in '07 for the same month. So our market isn't as bad as the press makes it out to be. But there are areas that are very drastic," said ReMax agent, Ann Brunson.

Compared to last year, sales are down 16 percent for the month of May.

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