Research firm CoreLogic reported this week that Georgia home prices fell another 5.6 percent in April compared to a year ago. Some analysts say new Fannie Mae and Freddie Mac rules for short sales could help stabilize Georgia’s housing market, where prices have fallen 36 percent in the last six years.
Mortgage giants Fannie Mae and Freddie Mac are suspending foreclosures and evictions for the holidays starting next week. Several national banks are joining them in a two-week holiday reprieve, but real estate and housing experts said the break will not help most families save their foreclosed homes.
Georgia foreclosures were up in July despite a national downward trend. July foreclosures across the country dropped 7% from June to a four-year low. But in Georgia, they jumped 18%. One expert says, Georgia could be on the leading edge of a forclosure ramp-up after a temporary lull.