Is Albany in a housing slump? - WALB.com, South Georgia News, Weather, Sports

Is Albany in a housing slump?

By Karen Cohilas - bio | email

July 25, 2008

ALBANY, GA (WALB) - Albany hasn't seen as dramatic a housing slump as other parts of the country have. That's what George McIntosh says. He is a real estate developer and member of the Home Builders association of Albany and Southwest Georgia.

He says while there is, of course, an inventory of homes on the market in Albany, most are existing homes for sale, not new homes. He says while there may have been a slight slow down in Albany, things are already starting to improve.

McIntosh said, "I think Albany is a little bit on the upturn. We're seeing more people looking right now. We're not seeing them sign on the dotted line right now and hopefully that's going to come."

One reason Albany may not have been affected as heavily as other areas is because the majority of people who live here rent property, but don't own.

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