View quarterly updates and historical trends for Georgia House Price Index. Source: Federal Housing Finance Agency. Track economic data with YCharts analy…

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

This data analytics project utilized SQL and Tableau to analyze and model real estate prices in Georgia. The data was cleaned and transformed in SQL, and visualizations were created in Tableau to identify key trends and patterns. A linear regression model was developed to predict property prices based on given features, and the model was validated using statistical metrics. The results were presented in an interactive dashboard, enabling users to explore the data and make informed decisions related to real estate investments in Georgia.

Thanks to the orginal authors of this dataset, which was co-produced by Guenter Roehrich and Jordan, who produced a dataset of real estate listings for Georgia for the first 6 months of 2021.

For visualizations related to this project, click the tableau link in my bio or visit tableau public.