Albany home sales lag - WALB.com, South Georgia News, Weather, Sports

Albany home sales lag

By Karen Cohilas - bio | email

ALBANY, GA (WALB) -  Nationally, home sales in December jumped to the fastest pace in seven months, though that's not the case in Albany. 

Realtors we spoke to today say they're happy 2010 is over. It was a challenging year, with just more than one thousand homes sold.

That's less than half of the homes that sold during the housing peak in 2005. There is a glut of homes on the market right now, more than 1800 homes for sale.

But realtors say interest is picking up. "The market will give a positive sign when the investors come in and buy homes and we're seeing investment purchases," said Patsy Martin of Walden and Kirkland.

Martin says homes are at rock-bottom prices and interest rates are still low, so it's a good time to buy.

When rates begin to rise, she believes home prices will too.

 

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