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Positive Trends Continue for Local Housing Market

Mar 05, 2013 -- 10:24pm

 

By: Kevin Karel (WRGA News)
Home sales were up slightly in Rome during the month of February as several positive trends continued in the local real estate market.
 
Foreclosures and active listings of homes were both well below February 2012 levels, lending further optimism to the recovery of the local housing market.  Jason Free, President of the Greater Rome Board of Realtors, says while it’s still a buyer’s market in Floyd County, some data suggests that could be changing;   
 
“When you look at the numbers several of the things are on par from where we were last year such as the number of units that have closed, and the average sales price has gone up a little bit,” Free says. “The things that are the most encouraging to me is that the supply continues to drop. And if the supplies drop, then that means we’re shifting more towards a balanced market.” 
 
While there were 20 foreclosures in February 2012, there were only four last month.  The average value of a home sold in Floyd County went up about 10% when comparing February 2012 to February 2013.     
 

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