The recent news headlines about the changing market have been sensationalized, and everyone seems to have a different perspective on the topic. Before you get caught up in the alarming housing market news, you must remember that real estate is local. To help you make the best real estate decisions, I’ll cover some significant changes that have happened in our Atlanta housing market.
Closings have increased throughout July. The month’s supply of inventory has also increased significantly since Spring 2022. Demand will likely decrease slowly throughout the year, while interest rates are currently hovering around 5%.
What does this all mean? If you’re a buyer, you now have a larger selection of homes. This is also your chance to buy from aggressive sellers who want to sell their homes before interest rates spike again. For sellers, there’s still an opportunity to grab the last part of the summer selling season. Demand will also drop as rates increase, so you should sell sooner rather than later.
Each market is unique, so make sure you work with an agent who knows yours. If you need help with your home buying or selling plans in Atlanta, don’t hesitate to call or email me. I’ll be happy to help.