Finally some good news for Atlanta home owners*. Atlanta home sales actually took a major jump forward for the month of November. According to FMLS statistics just released this week - inNovember 2009 there were 3,630 closings for single family detached Atlanta homes - fee simple. This is an increase of 32.9% for Atlanta home sales over November 2008! As you can clearly see from the graph for November home sales took off. The average prices moved a lot lower, but his was due to so many firstime home buyers in the market. This massive increase in home sales was fueled by a pent up demand for many of the first time home buyers that thought the 8K credit was expiring, and historic lowws of 30 year fixed rate mortgages. Owning a home is now cheaper than renting. We have to look forward now to see if the same trends of increasing home sales holds up.
The bad news for buyers is that rates are rising, and there is a lot less homes for sale than we've had in the last few years.
*These average home sales are an average of our FMLS service area and not limited to just the city of Atlanta.
James Crawford ABR, Broker Associate
RE/MAX Paramount Properties
1605 Mansell Road Suite 106
Alpharetta GA, 30009
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