Trends
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Data from the PEW Trust shows that investment companies make up approximately a quarter of the entire single-family home market across the U.S.
The projected year-over-year change in home sale transactions in the Atlanta-Sandy Springs-Roswell region is -0.3%.
October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported.
Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The county stood head and shoulders above its neighbors in terms of Atlanta-area housing starts, closings and lot deliveries, with Cherokee County coming in a distant second in all three metrics.
New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases.
The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said.
Atlanta, Phoenix, Tampa and Miami saw double-digit consumer price index percentage growth year over year.
The number of homes sold in October fell 16.6% from September to 4,805 properties, which was 31.8% lower than the 7,041 homes sold a year earlier, Georgia MLS reported.
The 44th edition of the in-depth forecast report examined 80 cities to determine trends in the real estate industry for 2023.
Looking ahead, CoreLogic expects national year-over-year appreciation to slow to 3.9% by September 2023.
September is the fourth month in a row to see declining sales activity.
A 30-year fixed-rate mortgage rose to 7.08% this week from 6.94% a week ago, Freddie Mac reported. A year ago, the average mortgage carried a 3.14% rate.