What an opportunity to buy! Low interest rates and an improving economy!
Atlanta real estate is increasing marginally as the sales price of single-family existing homes rose nearly 2% in January, 2011, compared with the same month a year before., marking the first time since August there has been a year-over-year increase in prices. Yun says “the uptrend in home sales is consistent with improvements in the economy and job market, which is helping to boost consumer confidence”.
Smart Numbersprepares charts reflecting changes in homes for sale in Atlanta for the First Multiple Listing Service, and indicates the following:
Closed units in Atlanta are up to start 2011
Average Prices are down for the beginning of 2011
An increase of 2.2% over January 2010 for all single family homes closed
Average Prices were down because fewer high-end homes closed, reducing the Average Price
The inventory level for all single family homes dropped to 40,770 at the end of January, 2011, the lowest inventory since the end of December, 2005.
Is real estate in Atlanta improving? There are encouraging signs that it is! As we move into the spring real estate market, homeowners and buyers should take advantage of this improving trend to sell or buy a home in the Atlanta area. Buying or selling a home in this changing market can be challenging. Contact a qualified Realtor who works in your neighborhood for assistance.