How’s the market?
The Market Action Index rose to 36 from last month’s number of 35. As we head into the spring market, this number nudges slightly more in favor of sellers.
What is the Market Action Index anyway?
Altos Research developed the Market Action Index for an at-a-glance measurement of market conditions. It’s a super quick way to show whether it’s a Buyer’s or Seller’s market. The Index is a barometer of real estate supply and demand. A value above 30 indicates demand is relatively robust, which is referred to as a Seller’s Market. Below 30 is a Buyer’s Market.
Here’s how the Market Action Index is helpful to you…
Use the Market Action Index as a measurement for the relative health of a market and as an indicator for prices. When markets fall into Buyer’s territory prices will likely follow with a downward trend. When markets fall into Seller’s territory prices will likely follow with an upward trend.
How are list prices?
The median list price of homes on the market also fell to $395,000 from last month’s $399,000.
The Median List Price shows how confident sellers are when setting prices for their homes. It’s based on recent home sales and pending deals, so it gives a good idea of what sellers expect to get. Since it’s closely connected to the final selling price, it can help predict how home values might change over the next few months.
What about mortgage rates?
Mortgage rates remained the same last month, staying around the high 6% area. Many experts agree interest rates will likely be dependent on the 10-year yield, which acts as a stand-in for mortgage rates and is also viewed as a reflection of how investors feel about the economy.
Learn more & ask questions
Path & Post Team continues to be one of the top-rated real estate experiences in North Atlanta with over 1400+ 5-Star Reviews on Zillow & Google.
When it comes to buying or selling real estate in North Atlanta, you deserve better than an average agent. Seek a Strategic Guide from Path & Post!
You can also get real-time market data by visiting pathpost.com/reports
