Atlanta real estate listings in our FMLS hit a new record today for Active Listings in our FMLS. There are now over 90135 Atlanta real estate Active listings. This is due to lower sales, and foreclosures, and higher homes inventory. Even though this listing number will fluctuate, it defines a trend of too oversupply and waing demand. With rising Interest rates, and high gas prices buyers are now in scarce supply, and they are not qualifying to obtain a mortgage. That becomes a sellers problem when tehy cannot sell their home for what they beleive it si worth. The buyers market is still in full force except for one thing, there aren't many buyers out there. For more information in your local Atlanta real estate market, please feel free to contact us for more information.
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Jim-that is frightening! It makes me realize just how small Daytona Beach is! What percentage do you think that shortsales and foreclosure properties in your mls are????
Midori Miller-Daytona Beach Florida Real Estate Trainer (CENTURY 21 Sundance Realty) Well it is hard to say. The numbers on both are just so big. In Fulton County last month there was supposed to be about 9000 homes auctioned, but only half met the new state law requiring full sign offs before the sale. This month there should be close to 14500 auctioned. We are getting about 10000 new foreclosures a month, and last month we sold only about 4000 properties in our regular sales. For anyone that can break the numbers down they are beyond scary. Many real estate companies are closing, and friends are leaving the business because home sales keep falling. Another mortgage officer of mine left the business yesterday.