If we keep listening to the news, the time of real estate gloom and doom is upon us. Rather than listening to these sensationalists how are looking for ratings why not look at the facts. The real estate market in the greater Atlanta area is not in a state of gloom and doom, it is in a correction. Certainly the number of closings are down compared to last year however year to date for 2007 there have been more closings than in all of 2002 and these numbers are through the end of September. Once the 4th quarter of 2007 is added there is a good chance that in 2007 there will be more closings than in 2004. Having mentioned 2002 and 2004, neither of these years were considered to be bad years in the Atlanta market or anywhere else. Another consideration for this market is the average sale price. While some markets of the country are experiencing declining prices the average sale price in Atlanta has increased by almost 3% so far this year.
So what does all of this tell us? It tells us that it’s a great time to buy a home in the Greater Atlanta Market. Interest rates are at notoriously low levels, there is an abundance of inventory on the market and yes some REALTORS and sellers have listened to the reporters and have helped generate an even better buyers market. Let’s get together and take advantage of this market.