Increased home prices coupled with rising mortgage rates
& modest income gain has led to a slip in national real estate
affordability. Atlanta, however, remains mostly unscathed.
The second annual
Home Affordability Study, conducted by Interest.com, found that home prices
rose nearly 16% over the last year in the 25 largest metropolitan areas, while
income rose by only around 3% on average. Although all 25 cities’ affordability
grade slipped, Atlanta still ranked most affordable big city with a grade of B+
(down from last year’s A).
Investor activity initially caused low supply & high
demand, but now owner occupants are gaining more confidence to get back into
the market as well, contributing to the national rise in property values.
While the median home price in Atlanta jumped from $103,200
to $143,400 (39%), that is still significantly lower than the national average
of $203,500. Nancy See, president of the Atlanta Board of Realtors explains,
“Atlanta is so affordable because we have no natural boundaries, unlike most
cities, which gives us an unlimited supply of land, and because this land is
less expensive.” The ABR president also attributes Atlanta affordability to a plentiful
supply of nearby building materials such as wood & brick.
Other factors contributing to Atlanta’s healthy market are
below average property taxes, modest insurance costs & a median household
income of $54,628, 6% higher than the national median.
This is GREAT news for Atlanta home sellers. It means now’s
the time if you’ve been waiting for this peak opportunity in the Metro-Atlanta
market to list your property. Right now, you can take advantage of the high
demand from eager & financially qualified buyers.
So…are you a Metro-Atlanta home seller looking to
avoid paying a pricey commission? Try out our Flat Fee MLS Listing service to
sell quickly & save THOUSANDS! Call us today & LET’S GET MOVING!
House Connect also offers real estate tips online!
Be sure to follow us on Facebook, Google+, Twitter, & Pinterest as well as subscribing to this blog. We’re always sharing our
market-insider tips on Atlanta real estate trends, DIY home renovation ideas,
and home staging tips to keep you ahead of the competition. Not to mention the
money you’ll save in listing commission prices!
Please feel free to post comments, send emails,
visit our social media pages and the House Connect website, or call us directly at 770-640-6800 for more info. We have dedicated,
knowledgeable professionals waiting to assist you with selling your home
without the pricey commissions.
**House Connect is a Flat Fee MLS Listing company
offering an alternative to the high cost of selling your home. We offer Atlanta
home sellers a discount realty program which saves thousands of dollars versus
using a traditional real estate agent.
Hello Amy,
ReplyDeleteThis is a very interesting article, I did not know that this kind of service was back.
I got o be honest, I would like to help the process by offering to qualify the buyers, and get them mortgage ready to speed up the process.
Please let me know what I can do to help, and how I can be part of this great process.
Hey Xavier,
DeleteWhat do you mean "this kind of service was back"??