At the end of 2015, the anticipated changes in the Georgia real estate trends and real estate news were shared from experts and analysts all over the place. As the second month of the New Year comes to a close some of those trends have already begun to take shape while others are still yet to be seen.
Anticipated Georgia Real Estate Trends that have Already Made an Appearance in 2016
Two months into the New Year and the Georgia real estate trends has experienced some changes that align with what the real estate news sites and analysts predicted at the end of 2015. Some of these trends include:
• Increasingly High Rent
Similarly, to how the rent prices escalated last year, many Georgia real estate trends analysts predicted that the price of rent would skyrocket in the New Year, making it more affordable in some areas of the country to buy a house as opposed to renting.
• Less Month-to-Month Agreements
It seems that in a lot of ways, the once fairly common month-to-month lease free agreement is going the way of the dinosaurs. This change has been happening over the last decade or so and has continued at a noticeable rate. The loss reduction of month-to-month agreements makes sense in a lot of ways, however, as it actually provides both the landlord, and the tenant with additional protection both in terms of their finances, and their property.
• Mortgage Interest Rates will continue to Increase
The prediction that mortgage rates will continue to increase is one that numerous real estate news and real estate market analysts made towards the end of 2015, and it seems as though it was one of the most realistic. Mortgage interest rates have continued to grow increase at a steady pace, not only domestically, but internationally as well.
Real Estate Market Trends Predicted by Real Estate News Analysis We have yet to see in 2016
While only two months into the year 2016, the changes that have taken place throughout the real estate market have been noticeable, and in many cases expected. Real estate news sources, however, had several additional predictions regarding where the real estate market would become of the close of 2016, several of which have yet to start, including:
A High Percentage of Baby-Boomers will look to sell their Homes
While the real estate market in some cities is growing at a safe pace, the prediction that a high number of homeowners within the baby-boomers generation are looking to sell their homes is hard to tell just yet.