Georgia Housing Market Snapshot - August

Georgia's housing market continued to gain traction during the month of August. Monthly indicators are as follows:
  • New Listings decreased 3 percent to 18,221. 
  • Pending Sales were up 9 percent to 13,128. 
  • Inventory levels shrank, with a 2 percent decrease to 43,791 units. 
  • Median Sales Price increased 8 percent to $229,193. 
  • Days on Market remained flat at 52 days. 
  • Months Supply of Inventory was down 10 percent to 3.6 months. 

Housing Starts shot up 12.3% in August, to a 1.364 million annual rate, a new post-recession high. And Building Permits gained 12.0% over a year ago, to a 1.419 million yearly rate, another post-recession record.

No wonder builder confidence hit an 11-month high! Meanwhile, Existing Home Sales have now risen two months in a row, up 1.3% in August, to a 5.490 million annual rate, 2.6% above a year ago.

Housing activity is clearly gaining momentum with a nice rise in purchase demand.  The Mortgage Bankers Association reports purchase mortgage applications up 15% from a year ago. Credit the strong labor market and low interest rates.

We are in a transitioning market which means pricing, marketing and positioning are critical to selling.

Contact us at 770-765-6222 to get your home's value and custom marketing plan to sell for top dollar.

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