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August Lackluster Month for Local Housing Market

Sep 07, 2013 -- 12:27pm
By: Laura-Jane Hatcher (WRGA News) 
August was a lackluster month for real estate in Northwest Georgia.
 
According to a recent report from Jason Free, president of the Greater Rome Board of Realtors, August had the third highest sales volume this year so far, but that’s coupled with nine foreclosures, up from 2012’s numbers and 82 deals closed, down 19.6% from last year. 
 
Even with the dull numbers, Free says real estate in Rome is still at a better place than it was in 2012.
 
“We had like six consecutive months where just about every number that we track has been better than the last year,” Free says. “The only thing that was just kind of a blip on the radar was the fact that we had nine foreclosures hit in the month of August. We were kind of hoping that number was going to drop down. In July it was three.” 
 
There was some good to be found in the August data; home values appear to be trending upward. The average home sold this month was around $120,000, which is a 16.6% increase from 2012. 
 

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