I have said for a long time that Metro Atlanta is a "tortoise" market. I have used that analogy many times. We dont get the big price run ups like Phoenix, Las Vegas, or L.A. But those areas have seen market price declines many times before. According to records from FHFA the recent decline in our area was the only significant decline in over 35 years.
But like any market, you need to be in for the long haul. If you think like the tortoise you can win!
From today's DSNews:
Are 'Tortoise' Markets Beating 'Hares' In Home Price Recovery?
After observing a first in, first out recovery over the past year in which markets hardest hit during the crisis experienced the fastest recoveries, Clear Capital is now examining whether the housing market, in fact, follows the allegory of The Tortoise a