Metro Atlanta to be a Top 5 Housing Market
Atlanta will be one of the hottest real estate markets in the country and is ranked in the Top 5 up-and-coming metropolitan markets. The Atlanta real estate market includes Marietta, Woodstock, Canton, Roswell and other local communities, is predicted to be one of the nations Top 5 real estate markets in 2016.
North Metro Atlanta Real Estate Forecast
2015 was a big year for Atlanta’s local housing market. Becky Babcock says, “Our local market transitioned from a buyer’s market to a seller’s market last year and we expect home prices to rise in 2016.”
2016 should bring more good news to local sellers. Median home prices are expected to rise 9.6% and existing home sales are projected to increase 7.4%, as noted in realtor.com 2016 forecast.
Housing Predictions:
+7.4% existing home sales
+9.55% median sales price
*Data based on single-family homes
Mortgage Rates 2016 Forecast
Last year, mortgage rates moved within a fairly close range. Conventional 30-year fixed-rate mortgage rates averaged 3.59%, according to Freddie Mac. At their highest, rates averaged 4.09%. Not since 1998 have rates moved so little during a calendar year.
According to The Mortgage Reports, what happens to rates in 2016 is anyone’s guess. “Rates could follow the Fed Funds Rate higher, or they may buck their recent trend and reverse lower as the year progresses”.
Buyer Advice
If this is the year you need to make a move, then do it as soon as you can. With prices poised to increase, buying early could save you from paying a premium for the same property. Supply should increase, but so will sales and this means inventory options will remain low all year. Be sure to save your search criteria to be auto-notified when a new property hits the market so you can be the first to consider the opportunity.
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Seller Advice
If it’s time to sell your home, this is a good year to do it. Buyer Demand continues to outpace the supply of homes For sale, which means prices and total sales are projected to increase. Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!
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Path & Post Promise
As the top real estate team in Cherokee County and the No. 1 ERA team in the U.S., we put a lot of posts in the ground marking properties for sale. But those posts mean more than listing homes for sale. They mark the beginnings and ends, turns and forks that our clients are taking in life.
We promise to always seek to understand your unique story. We want to know your hopes, fears and dreams. Our team is here to help you along your path, guiding and supporting as needed. We are like the sign post at the beginning of a trailhead, pointing in the right direction and explaining the obstacles ahead. Like a reliable guide, we walk with you along every step of your journey to a new home.
