When you buy a new home, you want that home to be worth what you paid for it. In the Georgia housing market, one city is actually one of the worst to buy a new house and get your money’s worth. That Georgia city has been named the No. 1 most overpriced, inflated housing markets in the U.S.
GoBankingRates.com has a new study out naming the “10 Most Overpriced Housing Markets in the U.S.” In the study, they say, “Although the housing market is finally cooling down, there are some areas across the U.S. where the market remains hot, and buyers are still paying much more than homes are actually worth.” They add that, “Florida Atlantic University determined the most overpriced housing markets in the nation by comparing the average expected home values based on historical trends to the average list prices across the 100 largest metro areas and finding the cities with the largest percent differences between the two.”
Before we get to Georgia, it’s worth noting that Florida has a whopping five out of 10 cities on this list. So, if you plan to head further south to retire, you’re in for a not-so great housing market, at least if you’re looking for a deal. It’s not a big surprise, though, as Florida is one of the hottest destinations for retirees and snowbirds.
Georgia Housing Market news:
I’m kind of surprised by this, but Atlanta comes in at No. 1 on the list of the cities with the most overpriced homes. In Atlanta, the average listing price is $357,677, but the expected home value is $236,627. Also, the difference between home value and list price is 51.16%. Are your surprised by the No. 1 pick being Atlanta? Find the full list of GoBankingRates.com’s “10 Most Overpriced Housing Markets in the U.S.” here. If you’re looking to make money instead of lose it in the housing market, check out some remote job opportunities below!