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Mon August 18, 2014

Metro Atlanta's Real Estate Market Holds Steady

Atlanta Board of Realtors
The housing numbers in metro Atlanta have remained relatively steady according to a new report.
Credit Atlanta Board of Realtors

It could be better, but it could be worse.

That's the findings from the Atlanta Board of Realtors' latest report on the housing numbers for July 2014.

"All the indications are very, very favorable for a continued, thriving and sustainable housing market in Atlanta," says ABR president Todd Emerson.

But, there is room for improvement.

There are about 16,500 single-family residential properties on the market in metro Atlanta.

That comes to just under a five-month supply.

Emerson says a balanced market is a six-month supply.

"It really doesn't have anything to do with buyer confidence, it's just that we still have a limited supply of inventory.  We continue to add to the inventory and the good stuff comes onto the market and is moving very, very quickly and we're seeing lots of multiple offer situations in cases like that," says Emerson.

Emerson says the real estate market in the core metro Atlanta counties-----like Cobb, Fulton, DeKalb and Gwinnett------have rebounded well from the recession a few years ago.

As for metro Atlanta's outlying counties, Emerson says things are getting better, but at a slower rate than counties closer to the city.

“People want to be, you know, as close in as possible right now, because of traffic issues and that’s where a bulk of the, you know, new construction is taking place…..is closer in,” says Emerson.

The ABR Market Brief provides a synopsis of sales and home prices of 11 counties throughout the metro area.