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Weather/Market Trends Knock Atlanta Home Sales Down 30% in January

by Peter Thomas Ricci

The metro Atlanta housing market suffered some setbacks in January, with unusual weather being the prime suspect.

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Metro Atlanta garnered national coverage for its freakish January snowstorms, and according to the latest report from the Atlanta Board of Realtors (ABR),  it appears the nasty affected not just traffic, but the area’s housing market, as well.

Both home sales and prices were down from December to January in metro Atlanta, with sales showing particularly stark declines. Todd Emerson, ABR’s president, said the weather and other economic trends affected Atlanta’s housing market, though the future does look bright.

A general consensus views this trend as a result of the severe weather during the last week in January, the continuation of low inventory across Atlanta, the return of ‘seasonality’ to the marketplace, and coming off very strong December returns,” Emerson said. “We expect that as the weather warms and spring arrives, we will see these numbers reverse and begin climbing again.”

For the specific numbers from ABR’s report, see our graphic below:

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