Fulton County GA Home Affordability in the 21st Century.
A recent Realty Trac survey reported in Housing Wire News reveals both good and bad news for Fulton County GA home buyers.
The good news is that home affordability is still better in Fulton County than it was at the height of the housing bubble.
The bad news is that the scales are beginning to tip away from the extremely favorable affordability climate we’ve seen over the last two years.
Fulton County GA homes for sale are still priced well, as compared to the high prices of the bubble era.
But are buyers able to qualify for the purchase loans? While many investors are still paying cash for properties in the area, owner-occupant buyers who must borrow may be left out of the race.
Realty Trac analyzed the income-to-price percentage for buying residential property in more than 1,000 counties nationwide. Their findings show that residential properties in one-third of U.S. counties have become less affordable than their long-term averages.
Fulton County homes for sale today are less affordable than they have been on average in the past 14 years.
What might this trend mean for potential Fulton County home buyers? One obvious answer might be this:
The home you can afford today in Fulton County GA might be just out of reach in the near future.
Perhaps the time to buy is sooner rather than later, as all indications are that interest rates will continue to creep upward.
That's my take on the report results. What's yours?