Spring 2023 Atlanta Housing Market
Posted by Hank Miller on
As the spring 2023 housing market around greater Atlanta picks up steam, in many areas it feels like deja vu all over again. The last two years were a ride for Atlanta area home buyers. Although low-interest rates were 
advantageous, a limited housing supply led to a grueling home buying experience. Atlanta area home sellers on the other hand, enjoyed historical sway and leverage. They could effectively name their price and state the conditions; buyers were willing to comply. Things changed fast, midway through ’22 rampant inflation and the Fed slammed on the brakes. Things quieted and the stage was set for the spring 2023 housing market in Atlanta.
Entering Q2 of 2023, there is no impending crash and many markets remain tight. While the larger market…
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Selling your home by owner, also known as For Sale By Owner (FSBO), is appealing to some in this exceptionally robust market. Not dealing with agents is nice, but can money be saved selling a home by owner? About 7% of homes nationally sold without a listing agent, of those over half were between parties that already had the transaction arranged. Data shows that around 25% of FSBOs don't sell; and for those that do, they sell between 6%-26% less than agent assisted homes. Consider…
certain to be on the radar of all is the appraiser; sometimes an ally, sometimes an enemy. More on Karen later...
market; none of that applies to their home. Data clearly shows their home is aspirationally priced, buyers confirm it, and it sits idle. When challenged the agent and/or buyer drop the classic line..."the seller doesn't need to sell".
of 2022 will show the pull back and move toward a balanced market, but as with everything real estate related, the devil is in the details. At the macro level, buyer activity slowed, days on market increased, months of inventory increased and the general balance of power is moving from sellers to a neutral position. On a granular level however, how homes are presented for sale makes all the difference.
killer inflation is ending the run this time. The Fed has to get control of this rudderless economy and the withdrawals from handouts and the free spending are here. The insane advantage enjoyed by home sellers over the last few years is ending, time for sellers to remember how to list a home for sale. That said, let's not misconstrue what we're looking at (as of the end of June '22 anyway); the Atlanta real estate market is not crashing. What we are seeing, are signs of a return to normal. What we are hearing are cheers from the buyers - the one's left in the game anyway.
