Albany housing market on the improving - WALB.com, Albany News, Weather, Sports

Albany housing market improving despite national scene

Posted: Updated:
  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • UPDATE: Police search for man who shot up two vehicles

    UPDATE: Police search for man who shot up two vehicles

    Sunday, July 27 2014 11:38 PM EDT2014-07-28 03:38:04 GMT
    Albany police say several shots were fired into an unoccupied vehicle Sunday evening at a restaurant parking lot.More >>
    Albany police say several shots were fired into an unoccupied vehicle Sunday evening at a restaurant parking lot.More >>
  • Westtown Library new hours start Monday

    Westtown Library new hours start Monday

    Sunday, July 27 2014 5:48 PM EDT2014-07-27 21:48:30 GMT
    An Albany library that reopened earlier this year due to budget cuts will start its new extended hours Monday morning.More >>
    An Albany library that reopened earlier this year due to budget cuts will start its new extended hours Monday morning.More >>
  • How to beat the heat

    How to beat the heat

    Sunday, July 27 2014 5:43 PM EDT2014-07-27 21:43:30 GMT
    Michelle DoyleMichelle Doyle
    If you’re out and about today make sure you stay hydrated. Temperatures will feel much warmer than they really are. It's the hottest day of summer and South Georgians are beating the heat by staying cool at Turtle Park. More >>
    If you’re out and about today make sure you stay hydrated. Temperatures will feel much warmer than they really are. It's the hottest day of summer and South Georgians are beating the heat by staying cool at Turtle Park. More >>
ALBANY, GA (WALB) -

The housing market crashed five years ago, but realtors in Albany say it seems to be getting back on track. For sales signs are on almost every street in Albany. Realtors say that's a good sign the market is taking a turn for the better.

"As the economy improves, we could see interest rates increase. So this would certainly be the year that home buyers need to seek out to own a home," said Debbie Fulford.

ReMax saw a 10% increase in home sales this quarter. They say that's the highest it's been since 2008.

Debbie Fulford is an associate broker with ReMax. She has 23 years of real estate experience. She says many people still have the dream of home ownership and lower interest rates are making homes more affordable.

"Because of the medium income range of families in the Albany area, we're seeing more under the $300,000 sales. But we are seeing a variety of sales in different price range," said Fulford.

Fulford says many people are now making the decision to buy a home instead of renting.

"Because of the demand of the rental market, it's driving the rental prices up. People now can own a home for less money than what a home rents for. So they're taking advantage of that opportunity," said Debbie Fulford.

Many people buy houses in the spring and summer. Fulford anticipates the housing market to keep climbing in 2013.

Realtors also tell us investors buying rental property can help contribute to the improving housing market.

 

Copyright 2013 WALB.  All rights reserved.