There has been a ton of media coverage lately about how the real estate market is on the rebound and prices are beginning to rise again. According to a recent CNN.com article:
“In another sign of a housing market rebound, home prices posted the biggest percentage gain in more than two years in the third quarter, according to the closely followed S&P/Case-Shiller index.
The 3.6% increase from a year earlier is more than three times the rise in the previous quarter and was the biggest jump in prices since the second quarter of 2010. But that 2010 rise was much more of a temporary blip caused by a homebuyer’s tax credit of up to $8,000 on homes purchased in late 2009 and early 2010.”
Click here for the full article.
Regardless of what’s happening nationwide though, each potential buyer or seller needs to pay attention to what’s happening in their local market. As a new feature to my blog, I will feature the local market trends for the Atlanta metro area.
Check out the graphic below. Inventory continues to decresase month over month. In my opinion, this can only lead to a further increase in prices. Buyers that are on the fence about purchasing need to jump in head first before prices go even higher!
