How’s the Atlanta real estate market this week?
The Spring selling season is officially wrapping up, and I just finished negotiating another contract with multiple offers — that’s 12 real estate contracts in a row with two or more buyers bidding on the home.
I thought it might quiet down for a bit, but sellers seem to be catching wind of the active Intown Atlanta real estate market and are requesting complimentary home valuations to see if it is a good time to sell their home.
Stay tuned for our 2Q 2012 Real Estate Report next week — that should offer some [very] positive proof that the Atlanta market fared well this Spring.
IN THE NEWS
Home Values are UP in 19 of 20 Metro Areas
Standard & Poor’s/Case-Shiller home price index revealed that this was the 2nd month in a row that home prices have risen in a majority of U.S. cities. Read the full article.
First-time Buyer Challenges & Multiple Offers
USA Today reports that first-time buyers are making offers on 3 to 12 homes before their offer is accepted (due to multiple bids of the properties). We are definitely seeing this in Atlanta and one of our recent listings received 17 offers in the first 48 hours. Read the article from USA Today.
Contracts to Purchase Homes at a 2-Year High
Americans signed more contracts to buy resale homes in May, matching the fastest pace in two years. Experts agree that the increase in contracts written will boost home sales this summer and continue the trend towards recovery. The increase suggests home sales will rise this summer and the modest housing recovery will continue. Full article from BusinessWeek.
Have questions about the real estate market in your Atlanta neighborhood? We would be happy to give you the full scoop. Call Kerry anytime at 404.721.3001.
Posted by: Kerry Lucasse | Atlanta Real Estate Consultant | 404.721.3001