Snow 2014 - North Georgia Blue Ridge Mountains
Frosty takes a bite out of housing!
Maybe we won't be singing the winter time blues much longer! What a difference a week makes. In the North Georgia area, about this time last week, we were still dealing with snow and some ice. However, this week, temps were in the upper 60s, pushing 70 in places.
What is not clear as yet, is how much of an impact the winter weather had on our local real estate market. But what is clear, is when the North Georgia Mountains are covered in snow, it is truly a beautiful sight.
On a larger market front, economists confirmed this week that the data shows the harsh winter has "chilled" the economy. According to the government, new home construction in the U.S. tumbled 16% in January. This is the slowest pace since September and down 2% from a year ago.
Other culprits like declining affordabilty, sputtering job growth and new mortgage rules are partly to blame. It's still too early to clearly identify underlying trends.
Donna Yates
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