Atlanta residents are feeling the constraints from the lack of housing inventory, especially if they are looking for homes in specific counties. RE/MAX Georgia collected MLS data to see how counties in metro Atlanta rank in terms of inventory.
According to RE/MAX Georgia’s data, Gwinnett County and Dekalb County currently have the smallest inventory with only a 1.9 months supply. Clayton county saw the highest percent decline from 2.9 months in April 2016 to 2.1 months in April 2017, a 28 percent difference.
“It’s important to remember that while inventory levels are declining throughout metro Atlanta, buyers may find more options in certain communities if they are willing to expand their search,” John Rainey, vice president of RE/MAX Georgia, said in a statement. “Cobb County, for example, has not seen the drop-off in inventory that other areas have recently experienced. For buyers, this may mean more options in their price range.”
Searching beyond these counties also helps buyers find more options. RE/MAX Georgia found that McDonough currently has a 3.2 month supply, which is up from 3.1 months.
Overall, Atlanta’s housing inventory sits at 2.2 months. A balanced market is considered a six-month supply.
The lack of housing inventory is affecting cities across the country with overall sales falling and prices on homes rising. This is leaving buyers frustrated at the lack of options and the inability to pick up new homes. Potential sellers are even finding that they are hesitant to list their homes because they are unsure if they will find a new home before selling their own.
|Cobb County||2.0 months||2.0 months||0%|
|Gwinnett County||1.9 months||2.2 months||-14%|
|Fulton County||3.0 months||3.6 months||-17%|
|Dekalb County||1.9 months||2.4 months||-21%|
|Clayton County||2.1 months||2.9 months||-28%|