According to an article dated January 3, 2012 by NAR’s Chief Economist, Lawrence Yun,he is upbeat – based on recent figures – on what 2012 holds for the housing market:Number of units (homes) sold is up; and home prices are stabilizing in areas of the country that have continued to struggle.And…in areas of the country that are still experiencing declines in units sold and home values the declines are not as egregious.
Other economic indicators which give him a glimmer of hope, is the job market. There are 100,000 jobs created a month with projected increase moving towards 150,000 a month. That is still not going to absorb the number of lost jobs quickly but at least we are moving in the right direction.
What does that mean for the Metro Atlanta real estate market?
Check back as I begin gathering final numbers and posting my findings for 20111.
Reference:National Association of Realtors: 2012 Home Sales: Positives on Many Fronts (January 3, 2012)