If you’re planning to buy a home and have not yet taken advantage of the outstanding home prices and low interest rates, you should keep reading:
Our real estate team speaks to hundreds of people every week who have plans to purchase a home in the near future. Many of you have expressed concern about the market and are wondering if 2013 is a good year to buy a home in the Atlanta area.
2012 was a great year for Atlanta real estate. The official numbers are in and we are ready to share them with you.
2012 will probably be considered the year that the housing market finally hit bottom and began an upward trend back to normalcy. Home prices, home sales and new home construction all increased while at the same time inventory continued to shrink, and record-low mortgage rates continued. Let’s hope the trend continues!
Just to give you an idea, no matter what’s going on in the national economy, at least 2,000 homes are sold every single month in Atlanta.
If you’re considering purchasing a home, you may be concerned with what’s going on in the real estate market. To help you answer this question, we took a look at the numbers for 2012 and compiled a chart showing you exactly how many homes were sold over the course of the entire year.
This chart includes all both houses and condos priced between $50,000 to $1 million. We’ve also included the average sales prices for all properties.
Here are the factors that made 2012 a great year for Atlanta real estate.
- Interest rates remain low
- The number of short sales and foreclosures is rapidly dropping all over the city.
- The number of applications for new construction permits are increasing.
- The total number of homes on the market is much lower than it’s been in years.
- Home prices are starting to rise, especially in the intown market.
2013 is expected to be even better.
For help navigating the Atlanta real estate market, give us a call. We’d love to help!