Update on the Atlanta Market

By
Real Estate Agent with Keller Williams Realty Consultants

Well, like most places, the Atlanta real estate market doesn't seem to be seeing the usual spring increase in pendings and you know what that means - more listings will come online and that will continue to make the market unbalanced with higher than usual supply and lower demand to make it worse. I was certainly hoping that we would see an increase in pending sales by now as an indicator of future trends, but, it just isn't happening. Here is a chart I made showing what actual values have been doing over the last year in Atlanta:

Atlanta real estate market sold homes - March '07 - February '08

Ugly would be the way it looks to me. Lower prices will eventually make buyers feel there is value in homes once again, but, let me tell you how many buyers I have talked to in the last 3-4 months that simply look at homes here in Atlanta and say to me how overinflated prices are.

At the end of the day, THEY dictate whether values are in fact overinflated. No one else. Until they feel better, we will probably continue on this trend.

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Georgia Fulton County Atlanta
Tags:
real estate
housing market
real estate market
atlanta
homes for sale
atlanta homes for sale
atlanta real estate market

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
10,770
Artisan Custom Estates
Artisan Custom Estates - Alpharetta, GA

Thanks Ryan - Interesting data.  I agree with you completely - confidence and perception of value are key from the customer's perspective, and that will ultimately swing the cycle back to stability and growth

May 19, 2008 11:29 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
26,309

Ryan Ward

Ask me a question
*
*
*
*
Spam prevention

Additional Information