30 Jun Atlanta Housing Demand – As Hot As the Weather
Real estate in Atlanta continues to look up. CNBC reports that high demand is pushing prices, and builders are thrilled.
During the housing crash, our city had one of the highest foreclosure rates in the nation and was slow to bottom out. As we sail into the third quarter of 2015, sellers are selling for record highs and homes are being bought before a “For Sale” sign even appears.
The Atlanta Board of Realtors and CNBC further state that inventory in Atlanta is up 3.8 percent from a year ago, but still at just a 3.8-month supply at the current sales place. Sales in April were up 8.6 percent from a year ago, and the median sale price of $229,000 was up 12.3 percent from 2014.
With positive year-over-year gains for the last 11 months, the ABR feels the selling season will continue to thrive, especially with such positive labor and economic statistics supporting first-time homebuyers to obtain financing.
Builders are also targeting move-up buyers, who are keen to take advantage of the continued low mortgage rates.
Read the full article on Atlanta’s hot housing demand on CNBC.com.
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