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Experts Predict Pause in Local Housing Market Growth in New Year

Jan 01, 2013 -- 10:29pm

 

By: Laura-Jane Hatcher (WRGA News)
 
With the nation still perched at the edge of the fiscal cliff, local real-estate experts are predicting a pause in growth for the first quarter of the 2013 housing market.
 
According to Jason Free, president of the Greater Rome Board of Realtors, 2012 was a year of fruitful growth for the housing industry in Floyd County. Home values and average home sales prices were among the factors that were trending upwards, signaling tentative recovery.  Along with this, 50 realtors in Floyd County sold over a million dollars worth of property each.
 
In the midst of this growth, however, Free expects a temporary plateau as everyone in the nation grapples with the ramifications of the looming fiscal cliff and Obamacare. 
 
“I think we’re going see some pause in the market for the first three months of the year, If we come back in February and March, and we’re looking at numbers that are a little depressed from where they were last year, I don’t think that’s a big deal. I think that’s going to be a market reaction to uncertainty. And we’ll see some delay in that—once people figure out how to play the game, how it’s going to work out; I think we’re going to be fine,” Free says.   
 
 
After this period of adjustment, Free expects the local housing industry to continue its recovery. Traditionally, Floyd is around six months behind on national market trends, but growth in Cobb County and Cartersville has Free hopeful for real-estate in the Rome-area.   
 
       
 

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