(Newswire.net — August 23, 2019) — Housing predictions and estimates are never easy. There are a lot of factors you need to take into account, such as home prices and buyers demands, in order to make a valid judgment. You need to look at the big picture and try to puzzle out where and how your particular situation fits in if you are to do well with either selling your real estate or buying a new one. How do we know this? Well, we’ve done it. So, let us help you get a better idea of current housing trends in Georgia.
Atlanta housing market
First, let’s take a look at the Atlanta housing market. That will give us the necessary context in which to interpret housing trends in Georgia. So, how is the Atlanta housing market doing? Over the last year, there has been a drop of 12.7% is the number of sold houses. This may not sound like a lot, and it certainly is not a disaster. But, it is certainly not negligible. But, this can be one of the reasons why you should consider Atlanta when moving, as there are abundant homes for sale. And, remember, the more there are, the cheaper they are going to get.
Now is a great time for buying a home in Atlanta.
So, how does Georgia housing market fit into that picture? Well, the best way to look at it is that the Georgia housing market is going through a shift. The decrease in sales is usually a precursor of the market becoming more buyer-oriented. The longer these homes remain unsold, the more their price drops. Soon, they will reach a point where they will be quite cheap, which will make buyers and realtors quite interested. Add to that the fact that the mortgage rates are at the all-time low, and you can easily see that a big boom in sales is in the making. So, if you are planning on buying a home in Atlanta, start looking for it now. Start comparing real estate properties and filter out the ones that suit you. The sooner you have your finger on the pulse on the Georgia housing market, the better.
Home price trends
Ok, so what about home prices. Well, they also help paint the picture that there is soon going to be a drop in real estate prices. Mind you, the drop still hasn’t happened. But, any real estate analyst worth their salt can tell you that it is in the making. Ever since 2012, the price of real estate in Georgia has been rising. So much so that in 2012 the median household value was around $93k while it now tops at about $281k. But, don’t worry. That figure of $280k has been steady for over a year. And you know what comes after stagnation? A drop. It is highly expected that there is going to be a drop in the prices.
Dealing with housing trends in Georgia
Ok, so now that you have a better idea of what housing trends in Georgia are like, what are you supposed to do? Should you find local moving experts in Atlanta, Georgia and move here? Or, should you try selling your Georgia home while the prices are still up? These are complicated questions which you should consider carefully. And, to help you do that, we are going to go over a couple of important points on dealing with Georgia real estate. Let start off with selling your home.
The more you know about housing trends in Georgia the easier it will be to for you to take advantage of them.
Alt: House for sale representing housing trends in Georgia.
Selling your home
If you plan on selling your home, the time to do so is now. The sooner you start dealing with the procedure of home selling, the easier it will be for you to get a good price. Now, there are real estate experts who think that the real estate prices in Georgia will continue to rise. They even predict a 2.8% rise in the following months. But, even if this is true, you need to start preparing your home for selling. Remember, no one sold their home in a week or two. It usually takes a person at least three months to renovate their home and find the right buyer. So, whether you want to take advantage of the soon to come buyers Frenzy in Georgia, or you want to try selling your home while the price is high, start preparing your home now.
Buying a home in Georgia
If, on the other hand, you plan on buying a home in Georgia and moving here, there are a couple of things you need to be aware of. Most of the people living in Georgia are moving to big cities like Atlanta. This means that the housing cost in Atlanta will probably remain high for the longest, as there is a high demand for housing. This is also fueled by the fact that the economy in Atlanta is booming, which makes people want to move here from all around the US. A strong job market leads to a strong real estate market, as it makes keeping it with mortgage payments easier.
A strong economy helps people have an easier time purchasing new homes.
So, is 2019/2020 a good time to purchase a home in Georgia? In a nutshell, yes. The all-time low mortgage rates make home purchasing a good idea, even in large cities like Atlanta. These mortgage rates should start rising soon, which is why you need to be fast both in selling and buying. The current supply and demand situation has a lot of competition between buyers, but also a lot of opportunities from sellers. One of the things that real estate gurus don’t want you to know is that this shift from seller’s market to a more neutral one is a great time to deal with real estate. So, what you need to do si to get your finances in order, find a good realtor to work with, and start taking advantage of the housing trends in Georgia.