Mortgage Rate increases over the last few months has played a role in our home sales pace. It is important to keep our pulse on this data moving forward as we strategically position our neighborhoods and make the proper assumptions in our absorptions. Metro Atlanta home prices rose in August, but sales declined, according to
HOUSING RECOVERY – ATLANTA ONE OF HARDEST HIT CITIES – EXPERIENCES STRONG RECOVERY
The lowest point of the housing bust was characterized by a glut of supply. Homes for sale remained on the market longer, and foreclosed homes and those with mortgages in default added to or threatened to add to this inventory. As a result, prices fell, and construction of new homes fell to extremely low levels.
Housing Inventory, Already Low, Dropped Further in January
The number of homes listed for sale, which stood at an 11-year low at the end of last year, fell even further in January, according to a report released Thursday. There were just 1.48 million homes listed for sale at the end of January, down by 5.6% from December and by 16.5% from one year