Home Sales up 7.4%
Believe it or not, the end of 2009 brought about the highest level of home sales that we have seen in nearly three years! November’s numbers were up 7.4% to a seasonally adjusted annual rate of 6.54 million. This is a 44% increase from last year’s sales. Many economists are attributing the jump in sales to federal support, but I think there has to be more to it than that.
What it boils down to is a combination of many different factors. For example, in the current Atlanta real estate industry, your money is going a lot farther than it did two years ago. A first time home buyer can purchase an intown Atlanta condo with trendy features and an impeccable location for not much more than $100,000. Going into the suburbs and $200,000 can buy a four bedroom house with granite countertops, hardwood floors and more. Buyer confidence is up and home shoppers are eager to take advantage of all of the amazing deals out there.
In addition to product and price, interest rates are at some of the lowest levels we have ever seen. And, to top it all off, the government is giving all first time buyers an $8,000 incentive to buy now.
November’s numbers are exciting, there is no denying it; however, the big question is – Are November’s numbers a fluke or will we continue to see home sales numbers steadily increasing throughout 2010?? What do you think?
For more details about November’s numbers, check out this article from the Atlanta Journal-Constitution.
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Joshua Vensel - Atlanta real estate photographer | Jan 6, 2010 | Reply
This is great news Laura. And you’re absolutely right about buyers’ money going farther in the Atlanta market now than it has in the past. I think we’ll see numbers increase in 2010 as more buyers move off the fence and start to pick up deals!
Cheryl Stimac | Jan 7, 2010 | Reply
This is great news. The tax credit program helped here in Tampa too but I think you’re corrrect – something bigger is starting to happen and all of us realtors ought to be encouraged by it.