Hank Miller Team Real Estate Blog - housing market

Is the Atlanta Real Estate Market Shifting?

The grizzled crusty veterans feel it and the questions are starting...is the Atlanta real estate market shifting? Has the move away from historic inventory shortages and home buyer frustration finally started? That argument can be made...and while the data lags by several weeks, the radar of many experienced agents is lit. The feeling in the field can't always be immediately confirmed but we're beginning to see the data evidence. It'll take a few more months as markets always tend to "feel" before the "proof"; that's just a challenge of the business. One thing that's not debated, the mortgage rate increases (with more promised) have been an ice bucket challenge to the market.

But first -it bears repeating that "the Atlanta market" is not a monolith; it…

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4th Qtr 2021 Housing Market Report for Atlanta

The curtain fell on 2021 and the housing market report for greater Atlanta can be succinctly summed up; crazy. In addition the last quarter being traditionally slow, the big influences on the market were inflation levels unseen in 40 yrs, supply chain shortages, labor issues and of course the rise and run of the omicron covid variant. That is best described as an endemic; like the flu it's evident that the covid situation isn't going anywhere. So despite all of that, we did have a 4th qtr housing market report for Atlanta and it read much the same as the rest of 2021; record low inventory and frustrated buyers.  What lies ahead for 2022? Well we know rising rates; as this is written in mid Jan, rates are already up from a few weeks ago and they will…

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Home Prices Expected to Appreciate 16% in 2022

Trying to predict any market; stock, bond, mortgage, real estate or other type is a measured guess at best. Toss in a global pandemic, global supply chain issues along with global inflation and the challenge is exacerbated. But in this maelstrom comes a confident 2022 housing market forecast from Goldman Sachs; they predict home prices will appreciate 16% during 2022.

In 2019 the housing market found its legs and combined with a historically strong economy and low rates, the housing market caught fire. The pandemic slammed on the brakes, but by mid ’20 things inexplicably exploded. Prices skyrocketed, competition was ferocious and this fever has been running hot through most of ’21. The two main drivers; low mortgage rates and historically low…

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Overpriced Homes Sell for Less - Even During Historically Low Inventory

Pigs get fed and hogs get slaughtered. Not every home is going to attract viscous competition, even with historically low inventory. Buyers are willing to pay handsomely for renovated and well maintained homes, for homes in highly desirable settings, for high quality well-built homes and for homes that offer something unique that draws them. The idea that sellers can simply put a price on a home and buyers will jump isn’t reality. The media however, has sellers convinced it’s a “name your price” environment. It’s not. Sellers that accurately price their homes will do the best, not just with price but by controlling the transaction. Sink that hook deep, set the rules for the game and tilt the table. An accurately priced, well presented home will draw…

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