By The Numbers
Where do you think the priciest zip codes are in the Atlanta metro area?
While home sales continued to evade the seasonal decline, buyers and sellers took a breather last week as COVID-19 cases spiked and the nation focused on the presidential election, according to realtor.com’s Weekly Housing Report.
It was a good October for Georgia home sales. Check out Georgia MLS’s October 12-County Housing Market Snapshot report.
The biggest changes were found in mortgages that are in serious delinquency, meaning those that are at least 90 days delinquent.
First-time buyers contributed to 31% of September’s home sales due to record-low mortgage rates, according to the report.
Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
The new S&P CoreLogic Case-Shiller Home Price Index reveals record-breaking August for home sales, up 21% over the 2006 pre-Great Recession high.
“It’s almost as if the housing market and the overall economy are operating in different worlds.” — Todd Teta, chief product officer at ATTOM Data Solutions
Homesellers continued to sell homes to each other in September, making the market resemble a game of ‘housing musical chairs,’ according to First American chief economist Mark Fleming.
“Increasing house price appreciation in suburban zip codes points to higher demand relative to supply in the suburbs but does not necessarily indicate what’s fueling the demand,” the study notes.