The December 2010 Atlanta housing market statistics show a remarkable increase in the inventory level of homes for sale than the same time last year, mostly because last year’s December was a reflection of an increase in demand due to the first time home-buyer tax credit ending. This past December did not have any sort of artificial demand, nor did the other months of the 4th quarter. Read more
June showed us a good review of the First-Time Home Buyer Tax Credit Hang Over effect. We had lots of closing which were mostly those closing that were required to get done by June 30th that were put under contract prior to May 1st. We saw the inventory continue to drop as deals that were pending got closed. Read more
With the April 30th tax credit deadline expiring for first time home buyers, May 1st brings a new real estate market for us here in Atlanta. Of course everyone is breaking out their crystal balls to try to figure out what our market will look like without the sense of urgency that buyers have been under to get under contract by the end of April, and the urgency that Sellers have been under to get their homes on the market and sold before the tax credit expires as well. Read more
December ended with 8.4 months of inventory in the Atlanta Real Estate market based on the 39 MLS areas we track. Fundamentally this is good news because the closer we get to 6 months of inventory, the faster we will see prices start to increase again. There is nothing I would rather see more than prices start to increase so that I can share good news with my Sellers again, but I think we are going to see that this is a false trend and here is why: Read more
The amount of inventory has continued to shrink, which is great. Since February, we have seen a decrease in the number of homes on the market which can be attributed to many things. One reason for that number coming down can certainly be attributed to the $8000 First-Time Home Buyer Tax credit expiring on November 30th, which caused many of the ‘fence-dwellers’ to pull the trigger and buy a home to take advantage of the credit. Read more
Last night, the House voted 403-12 to expand and extend the Homebuyer Tax Credit (as part of the Unemployment Insurance Bill). The bill is now on its way to President Obama for his signature.
The agreement on the extension and expansion of the credit is as follows:
Contact Mike if you or anyone you know would like to discuss how you can take advantage of this tax credit over then next few months.
Numbers improved this past month on almost all fronts. A large increase in sales was reported and we also saw a shrink in the Months of Inventory. Remember, to get to a market where we can expect prices to start to go back up, we are looking at that Months of Inventory number to get down near 6.0 months. Above 6 months means that we are in a Buyers market, which we are here in Atlanta, and below 6 months would indicate a Seller’s Market (which property owners are looking forward to). Read more
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