North Georgia real estate expert Frank Norton. Jr. said Monday he expects the economy, including housing sales, in the region to stay at about the same pace this year as in 2016.
Norton, the CEO of The Norton Agency, which is based in Gainesville, said the President Donald Trump may energize the economy even more.
"I think what we'll see in 2017 is a repeat of 2016's economy, its vibrancy. The wild card, of course, is Trump and perhaps some deregulation and perhaps some lowering income taxes, which should stimulate the economy even greater," Norton said.
Norton, a guest on the Monday morning edition of WDUN's Morning News with Bill & Joel, said there's good news for people who are looking to sell their houses in 2017. The supply is low, and folks want to move to North Georgia.
"Hall County has about 4.2 months' supply of housing. Northeast Georgia is really no different. It's 4.5 months' supply of housing. That means that a house that goes on the market today, on average, stays on the market only about four and a half months," Norton said.
The demand is greatest for houses priced at $300,000 and under, according to Norton.
Despite interest rates on home loans moving up, Norton said he thinks the increase will be slow. He predicted a rate of 4.5 or 4.75 by the end of the year.
Norton's full interview with Bill & Joel is on the left.