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Fred Filsoof Coordinated Properties 2014 Atlanta Real Estate Perspective
Pending home sales, which is based on contract signings, rose 3.4 points to 97.4 in March.
By: Coordinated Properties
Pending home sales are strongest in the South, where the index gained 5.6 points to hit 112.7, and weakest in the Northeast, which rose by only 1.4 points to 78.8. A score of 100 is equal to the average level of contract activity in 2001.
Atlanta's home resale inventories stayed the same, with a 0 percent change since April 2014. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in May. The median listing price in Atlanta stayed the same from April to May. There were a total of 38 price increases and 282 price decreases.
It is clear that the housing market for the Greater Metro Atlanta area is improving. Right now, we still have low prices and incredible mortgage rates. But the trends for mortgage rates are upward and home prices are increasing. Many buyers and sellers need to act quickly before their buying power in impacted significantly. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! The cost of waiting could be quite significant.
Call us today to view luxury homes for sale in Atlanta. 404 210-8517.