It's been a while since I did a market update for the metro Atlanta area and the good news is that you didn't miss much (except for the price increases).
So let's run down the hot points of what's going on in the market.
- Inventory is still low, causing prices to increase.
- Rates are increasing, further causing buyers to move off the fence to act now.
- Rental rates continue to skyrocket with no real end in sight as Atlanta continues to build apartments and condos. Did you know that the median price for an Atlanta condo is $400+!!! Only higher end buildings are being built right now (even in new construction).
- On the bright side, lenders are loosening restrictions
- Year over Year Median Price increase 7%!!
What you see above…