LOWNDES, CO. – New data reveals that Lowndes County housing has low inventory with higher interest rates.

Release:

New Georgia MLS September housing data reveals that Lowndes County has low inventory with higher interest rates providing headwinds into 2024.

• Low Inventory (lack of supply), higher interest rates, and homeowners with historically low mortgage rates are keeping prospective sellers on the sidelines. 

• These factors, combined with seasonal slowdowns and economic uncertainty will continue to provide headwinds as we enter into 2024. 

• Housing prices will continue to climb, as residential inventory shows no sign of increasing. 

• While home foreclosures have not significantly increased, it is a market condition that is being closely watched.

•  Across Georgia, Sales Units and Sales Volume are significantly lower than last year, with both being off by 22% and 18% respectively. Overall Sales Volume is down $6.3 Billion as compared to 2023.

For more information on this story, a link is available below for the Georgia MLS September housing data: 

https://www.gamls.com/statistics/marketsnapshot/county/Lowndes