Current Market Data
A decline in new home listings has had little impact on the market as far as demand is concerned, according to a recent Redfin report.
Income levels and mortgage rates gave homebuyers in June 129% more house-buying power than they had in 2006, according to First American Financial Corp.’s June Real House Price Index.
Both existing-home sales and housing inventory fell during August in Atlanta. But housing starts are up.
The median price of a home in Georgia dipped slightly in August but was up more than 18% from a year ago, according to a new report from Georgia MLS.
Atlanta homebuyers should brace themselves amid expectations the residential real estate market could see double digit growth next year.
Even as the real estate market is showing signs of cooling and more sellers are dropping asking prices, median home prices increased by double digits from last year.
Also during the month, the median sales price rose to $390,500 from $370,200 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
“Much of the home-sales growth is still occurring in the upper-end markets, while the mid- to lower-tier areas aren’t seeing as much growth because there are still too few starter-homes available.” — NAR chief economist Lawrence Yun
In what’s been a historic, frantic market, homes selling for large sums over list prices have risen sharply since January.
You might be surprised by the results of this survey.