Anecdotally, through some of my recent sales and working with clients, I’ve felt the housing market has been improving. Recently, I have been seeing some market data to back up my intuition.
Click on this chart of Atlanta residential home sales to see that the home sale prices appear to not only have stabilized, but are starting to show some strength. The market area for these numbers is roughly North Atlanta and North Metro Atlanta.
While I don’t think we are going to get back to pre-2008 prices overnight, I’m encouraged by the direction of the trends. As I mentioned in a previous post, the absorption rate, while still high, has leveled off.
On the flip side, it’s still a good time to be buying. There are some really great deals on houses in Atlanta and the market appears to be headed for a recovery. If you’re interested in buying or selling a home in Atlanta, please feel free to contact me.
Chart source: SmartNumbers.
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