Positive Trends in the Georgia Real Estate Markets - June

The numbers¹ are in and, while we are not out of the woods by any means, there is reason to hope we are getting close to putting in a bottom. 

·         Closed sales are up for the 6^th straight month but still 10.7% below this time last year.  

·          Pending home sales are up for the 6^th straight month and up 14.9% year over year.

·         June marked the 4^th consecutive month of dropping inventories with 67,878 active listings – down 26.4% since June 2008.  There were 12,102 new listings, down 24.3% year over year.

·         Foreclosures are down 19.5% year over year – though up over April and May.

·         The average sales price for a detached single family residence for June was $168,894, marking a 3 month sequential increase.  Year over year we are still down 18.1% but gaining steady ground since January.

If you would like more market information, or assistance in buying or selling a home, you can go to www.ShafferAssociatesRealty.com.  Bridging the gap between traditional and discount brokerages, we provide plans that help you preserve your hard earned equity/cash.

1. All numbers were compiled utilizing market statistics from GA MLS.