RIS media reports the following:
February homes sales were 8.7% higher than the previous February and that is the eighth straight month that has happened. What I am seeing right now is more buyer traffic but with less inventory to show them. The amount of inventory on the market decreased for the 20th straight month and is approximatley 22% lower than a year ago.
All of these are positive signs. The wildcard in a recovery will be foreclosures. As long as they continue at the pace set in 2011 many postential sellers will decide not to list their homes and that will keep inventory levels low. Right now I would like to see a few more homes on the market.
The Alpharetta and Cumming and Suwanee real estate markets seem to have stablized - which is a whole lot better than declining. I am also seeing short sales being completed and at a much quicker pace. My hope this is a sustained improvement and not just the result of the spring selling season. Either way I will take it now.
If you need to buy or sell real estate, or know someone that does, please call me at 770 722-7010. I will take good care of them.