We’re all waiting for Atlanta’s housing inventory situation to improve…but that has yet to happen.
The inventory situation in Atlanta continued to worsen in 2014, according to new numbers from realtor.com.
Per realtor.com’s analysis, inventory in Atlanta dropped by 7.7 percent from November to December, and is down a hefty 10.6 percent from Dec. 2013; so in other words, inventory in our area fell 10.6 percent in 2014.
That puts realtor.com’s numbers in stark contrast to the trends ABR recently reported, though our recent discussions with Atlanta-area agents do confirm that inventory remains relatively low.
As Cathy Davis Hall of Atlanta Fine Homes Sotheby’s International Realty explained to us, “With inventory being so low, your property will sell immediately if it’s in good shape and priced accurately – and I will say that in the Buckhead area, people are certainly trying to list their homes for a higher amount than in months past.”
Inventory and Home Sales – A Cyclical Relationship
It’s the ongoing issue in housing, and one that we just can’t seem to overcome: sales activity is low because inventory is low; until more quality inventory hits the marketplace, sales activity will remain low; but in order for more quality inventory to hit the market, a number of market developments – which we’ve detailed in past coverage – must occur; and thus far, none of those developments have occurred for the majority of potential sellers.
See our graph below for a fuller understanding of how our inventory woes compare with the rest of the nation.