Research Proves it Really is a Buyer’s Market

May showed some encouraging numbers in the housing market not only in Atlanta real estate, but across the nation. Nation-wide research of new home communities showed an average of 79% increase of foot traffic. Almost all reported that the foot traffic significantly increased during the month of May, and has been slowly increasing since December. Several newspaper articles and economic experts have continued to say that Atlanta has dodged the dip in the housing market and avoided the struggles seen elsewhere in the nation. The AJC even calls our housing market is “vibrant.” However this nation wide increase means that buyer enthusiasm is up again not just in Alanta but throughout the U.S., and that our country could bounce back quicker than expected. Jay McCanless, a market analyst, said he believed the numbers are encouraging and prove to be much more than a seasonal spike. There are such good deals going on right now, that it makes sense that more people are wanting to buy. Promotions like cash toward closing costs, discounted financing, and free upgrades are becoming standard. Also, the cost of options and upgrades has fallen over the last two years which gives more people the chance to truly own a customized dream home. The value for the new home buyer is incredible. However, the rush of homebuyers to take advantage is due to the fact that they know these great deals will not last. Over half of homebuilders and sales people surveyed said they believed these promotions will not last. The great deals are doing exactly what they are supposed to: increase demand to get out of this slight economic slump. Once the goal is achieved, home prices will jump back up again.The research shows that homebuyers are responding to the low prices and taking advantage of the great deals which not only help the individuals but our economy as well.