WORST Time to Buy?! 2024 Mid Year Real Estate Market Update
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- čas přidán 30. 06. 2024
- The 2024 real estate housing market has been anything but predictable so far here in the northeast metro Atlanta area. We saw bidding wars early on this year, then a slow-down in many areas as of late, but highly desired towns are still moving at full steam ahead. If interest rates come down later this year or next year, we will see an increase in buyers, which will drive prices up, so now is not a bad time to buy if you need to make a move.
For more information like this, make sure you check out this video: • What Is Happening in T...
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My Realtor will be contacting you soon. Moving from Colorado to Cartersville or Canton. Do you cover Cartersville?
Wouldn’t lower interest rates also increase the number of sellers thus increasing inventory? I feel there’s a large number of folks who are locked into a 3% rate and simply can’t afford to sell/move.
Exactly
Yes and no...The challenge is that because majority of howeowners have a rate below 5%---even with rates dipping into the 6's, we likely aren't going to see a break in the log jam until we get into the 5's.
Yes, the potential for any lower interest rate sounds good. However, the Fed is only potentially lowering it to combat the now high unemployment rate. If ppl don’t have jobs, it doesn’t matter how low the rates go. Sure, any low rate will benefit some.
Homes for sale in June 20705 in metro Atlanta area. That’s more than pre-pandemic level. There’s already oversupply, not shortage!
In June of 2024 (data was released today), according to FMLS data, there were 15,297 homes for sale in the greater Atlanta area. In June of 2019 in the same area there were 19,269. I'm not sure where you are getting your data and would love to look at the numbers you are seeing. Please share with me your data source--I would love to look into this.
@@MovingtoGeorgia revenue app. I wouldn’t compare to 2019 since as we had a spike right before it crashed. But if you take an average, then we are at the level.
I'm not sure where that data is pulling from as my data is coming from the main MLS system for metro Atlanta, First MLS. I disagree about not using 2019 data. If we are looking at year over year data, 2019 was the closest data point of the last normal market we had. 2020-2023 markets are even lower in terms of available homes for sale. If you look at June 2018, there were 18,126 homes for sale in the greater Atlanta area. Our inventory is still low and in fact, the closest time period that we have had to the current inventory levels of around 15,000 homes for sale was in January of 2013. The data isn't lying, inventory is still at historic lows even prior to pandemic years.
It’s understandable that you have a skin in the game, but don’t mislead people that much. We already have pre-pandemic inventory numbers in metro Atlanta area.
I'm not sure what you mean when you say we already have pre-pandemic inventory numbers...are. you referring to the amount of homes for sale? May of 2019 there were 19,013 homes for sale according to data from FMLS. May of 2024 showed that there were only 15,405 homes for sale. That's an almost 19% decrease in homes available for sale--this is taking the Greater Atlanta Metro as a whole. It's more severe in areas like Cumming, Alpharetta, Johns Creek.
Perfect time to buy a house guys! No crash coming. Everyone is doing well. No better time than now!🎉🎉🎉
All I’m saying is just give the most updated objective information and don’t mislead people.
Again, I'm basing my information on actual facts. In June of 2024 (data was released today), according to FMLS data, there were 15,297 homes for sale in the greater Atlanta area. In June of 2019 in the same area there were 19,269. I'm not sure where you are getting your data and would love to look at the numbers you are seeing. Please share with me your data source--I would love to look into this.
@@MovingtoGeorgia reventureapp
@@MovingtoGeorgia Are we talking about metro Atlanta? We had unusual spike in 2019 but if you compare to the 10 year average, we are at the same level. There is no shortage anymore for Metro Atlanta area.
@@MovingtoGeorgia even more we are adding about 5% each month and the trend is very strong. You can calculate yourself what supply level we will have by the end of the year.