Cumming, Georgia - Existing-home sales edged up in January, while a seller's market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of REALTORS®.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.4 percent to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in December, and are 9.1 percent above the 4.51 million-unit pace in January 2012.
Lawrence Yun, NAR chief economist, said tight inventory is a major factor in the market. "Buyer traffic is continuing to pick up, while seller traffic is holding steady," he said. "In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We've transitioned into a seller's market in much of the country."
Wow, I have been selling homes for over 10 years and I have never seen inventory levels this low! We currently have on average less than 4 months of inventory in our area and are even seeing multiple offers on homes again. We have gone from a buyer's market for the last several years to one where buyers are actually getting frustrated with the lack of inventory available in most price points. We need homes to sell.
If you, or a friend or family member, have been thinking about selling, please reach out to me today! My team and I can help you evaluate your specific situation and help you see if the time is right to make a change! At the very least, we can help you get a better idea of what today's low inventory levels are doing to your homes value. Lets Talk!
BTW, if you would like to be kept up to date on activity in ANY neighborhood please just let me know and we can set you up to receive updates on either a daily, weekly or monthly basis.
Home Prices in Georgia Up 20 Year over Year
Housing Indicators for Georgia point to more stabilization in the market throughout the state. Some key findings: New Listings decreased 18 percent Pending Sales were up 16 percent Inventory Levels shrank 32 percent Median Prices rose 20 percent Average Prices rose 12 percent Months Supply of Homes for Sale decreased 41 percent
If you or someone you know has been thinking of selling, trading up or downsizing, please email me firstname.lastname@example.org today to learn about current home values.
As Certified Distressed Proeprty Experts, our team specializes in helping home owners avoid Forelcosure. We have assisted dozens of families in Forsyth, Fulton, Cobb, Gwinnett, Dawson Counties and on Lake Lanier by successfully selling their homes and coordinating the short sale process and debt forgiveness with their lenders. If you know anyone struggling with their mortgage payments, please have them contact us before it is too late. www.GaForeclosureInfo.com
We are trained, experienced, compasionate and perhaps most importantly doggedly persistent. Last week we closed on a short sale in Atlanta Country Club after 27 months and 5 buyers. This sale closed quite simpy because our team would not give up working to help our clients.
Homes Selling in Forsyth County Georgia - National Forecast looking up
Latest NAR Housing Forecast below, here in Forsyth County Georgia, we are seeing increased activity from buyers this year. While there are great deals on distressed homes and new construction we are also having success in selling our traditional resale homes. Call or email me today if you would like to know how much your home is worth in today's market and/or if you are interested in buying a home, investment property or lake home.
The housing market forecast has been upgraded based on a rise in pending contracts and continued moderate economic expansion. Here is the latest 2012 Economic and Housing Outlook from NAR Chief Economist Lawrence Yun. The full 15 slide PowerPoint looks at economic indicators such as existing home sales, new home sales, housing starts, GDP, payroll jobs and more. Link to the full PDF can be found here.
Great Deals on Lake Lanier Homes for Sale
Summer is around the corner, the lake is rising and we have some great deals available on Lake Homes for sale on Lake Lanier in Forysyth County, Dawson County and Gwinnett County in Georgia.
Lake Home on Lanier - Lake Lanier Foreclosure currently for sale 4 Bedrooms, 3 Baths with grass and gentle walk to deep water with dock priced in the low $300k range. Great for full time or weeekend. Just one of many great lake deals avaiable today.
Pending Home Sales on the Rise
Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8.0 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings.
John HeathWant to learn what's going on in real estate today? Check out my new Real Estate Today radio feed and view the hotest new properties for sale on my website. www.NorthGaHomeFinder.com
Home Sales Improve
Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors®
Lawrence Yun, NAR chief economist, credits good affordability conditions and economic improvement. Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions. Mortgage rates should rise only modestly in the months ahead, so well continue to see a favorable environment for buyers with good credit, he said.
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Immaculate 5 BR/4 BA home with Master Suite and 2nd bedroom with full bath on main located in private community with large lots spacious well appointed homes. Perfect family home with large secondary bedrooms and partially completed Terrace Level with theater/family room plus a bonus room with full bath. Highlighted by beautiful mill work, vaulted&double trey ceilings this home has a separate large dining room, fantastic kitchen with island, maple cabinets & plenty of counter space, custom window treatments. Large deck & patio overlook your private level backyard. http://3505chicorycreekdr.IsNow4Sale.com/?mls=1