The consensus is pretty much the same across the board...worst housing market since the mid-70's; and, longer lasting. Looking back over years past, current housing prices are at 2002 and 2003 levels nationally. If you have listened to the media you would want to bury your head in the sand and wait for "better" days.
For Atlanta, the writing was on the wall in 2007. As the year progressed, we all saw the housing market slow. And, foreclosures currently continue to dominate the Atlanta market. So where does this take us? Well, if you are a pessimist you would find this really bad news. However, if you are the eternal optimist...what's not to like????? The current Atlanta market should prompt any potential buyer (or seller) to make their move. The deals are out there if you are a buyer. And, as a seller you may see a slight decline in home pricing, but what you may loose selling, you should more than make up when you buy.
On average, home pricing in Atlanta has declined less than 1% over 2007 with home pricing expected to remain flat throughout 2008. Because of our continued strong population growth, Atlanta will absorb the current inventory of housing supply. And with the speculation 2009 may bring increased interest rates, if I was on the fence....I would get off and make my move!!!
Source: Courtesy The Agent Advisor