BROOKHAVEN – The real estate market over the last year has been described as “scorching hot” and “on fire.” But now that schools are back in, the new phrase is “cooling off.” The US real estate market has been steadily climbing for years, but the pandemic created a rarely seen situation for home buyers.
The interest rates have been historically low. Millennials, the largest generation, were ready for first homes and to buy up. West Coasters working virtually realize they can move to Atlanta and get more home for their money. And because we were homebound, the buying season never ended.
Well, students are back in school. People are going back to work and planning holiday vacations again, so the market is cooling off.
Erik Benjamin, a realtor, said, “Inventory is up. It gives you more choices instead…