Hot-lanta Dodges Home Crisis

I know that everyone has formed their own interpretation of the real estate market, but I come to you with statistical facts and the opinion of Andre Jackson, a reporter for the AJC. March has come and gone, and in the past has always started a spike in new home sales due to spring savings events, however March 2008 brought new homes sales so low nationwide that we haven’t seen numbers like these in 16 years. In addition, housing prices diminished with the falling numbers of sales. I know this seems pretty glum, and many of you may have heard these reports on the news recently, but what I am trying to prove is that you can’t listen to these national reports and think they apply to us. The housing market is local. And I can use this particular example as supporting evidence – while many markets in the nation saw record lows for new home sales in March, Atlanta’s new home sales hardly saw a dip at all. Thanks to our relatively strong economy and the fact that Atlanta provides affordable housing, we have been able to dodge the severe housing crisis that has hit so many markets in the nation. The number of inventory homes is steadily declining, but, due to our strong business economy, we continue to have homebuyers. The ratio of supply and demand is gradually catching up to us, so if you are in the market for a new home, you better start buying now because as that ratio gets smaller, home prices go up!