Housing Reaches Bottom
According to experts, if you were waiting on the Atlanta housing market (or even the national housing market) to hit bottom — you are too late. You should have bought in March!
Since the 1970s, the signal that the the housing market is at the bottom has been with housing starts decline to 1,00,000 p.a. — that happened in March, 2008! It is definitely time to get off the fence and buy a new home!
A recent Wall Street Journal article, “Is Housing Slump at Bottom?”calls this the magical one million mark. Apparently the one million mark has signaled the bottom in every housing recession for the past 50 years.
It is a great time to buy an Atlanta new home!
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Jonathan Smoke | May 16, 2008 | Reply
There’s more evidence that Atlanta’s housing market is turning a corner. On the listings side, listing prices are up over the last several weeks, average days on market have fallen, and market action has risen significantly. See my post on HousingIntelligence at http://www.housingintelligence.com/economics/pulse-of-resale-activity-bodes-well-for-atlanta-s-rec.html