The A/P reported today that the Pending Homes Sales index increased for the 5th consecutive month - this is a very good sign on a national level. The last time the index increased for 5 consecutive months was in 2003. Now I will talk about what I see as an agent as I show homes for sale in Alpharetta, Cumming and Suwanee Ga.
This past weekend I had 3 buyer groups in town, one from Co (home is under contract in Co- good sign), one from Mo. and one is a local move - currently renting.
Three times on Saturday as I approached homes to show them we had to wait because other agents were in the house - I have not had that happen in a very long time (it maybe a couple years). On Friday one of my buyers decided to make an offer on a home we saw in Wednesday but when I called on Friday the home went under contract. Another buyer saw a home on Sunday and wanted to see it again this weekend but it went under contract this week also. From my level the market seems to be improving. It may be that school starts next week but whatever the reason there is more activity.
A coulple other items on a very local level are the following:
The number of homes in Alpharetta under contract for May and June of 2009 is higher than May and June of 2008. That is a sign I hope shows we have bottomed out and are starting to go up.
The number of homes in Cumming under contract in June of 2009 just crossed over the June 2008 number - again a very positive sign.
What does this mean to me - I think there are a lot of people that would like to move but do not because they can not sale their home for what they owe on it. Real estate is nothing more than Supply vs. Demand and as the supply of homes decrease then the prices of homes will stablize and increase. At the end of June the number of homes for sale in Alpharetta and Cumming is lower in 2009 than in 2008 - the market is moving in the right direction. Once the buyers that are sitting on the fence start to see home prices increase I think the buyers will become more motivated and start buying more homes.
If you are considering buying or selling a home, or know someone that is considering moving, please call me at 770 722-7010 - I work with both buyers and sellers and know the market. Visit my website at www.FosterHomeInfo.com for more information.
Alpharertta Real Estate Report and Cumming Real Estate report is prepared by John Foster with Remax Greater Atlanta -
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