As stated in this article by Norada Real Estate Investments, Home prices were through the roof in 2020. Additionally they state that the pace of appreciation seems to continue in 2021. March’s sales were 32.5% higher than in February. And it shows it to be a positive sign. And even though buyers are facing some real challenges with low inventory levels. Low interest rates make for better buying power.
2021 will be defined by low interest rates and low inventory, a perfect storm that will continue to push home prices higher.As stated by Norada Real Estate Investments, 2021
It goes on to say that “2021 will be defined by low interest rates and low inventory, a perfect storm that will continue to push home prices higher.” With low supply and high demand in the wake of many factors surrounding the 2020 pandemic and shift in our collective live/work/play habits, buyers have more buying power. This fact, fueled by low interest rates, help in home prices continuing to rise. Additionally, people are looking for more comfy nests to call home.
Realtor.com’s April 2021 report shows Atlanta is a seller’s real estate market.As stated by Norada Real Estate Investments, 2021
On The Rise:
Continued talk and speculations point to home prices continuing to rise in 2021 adding to the higher price of homes for sale in Atlanta and low supply. Norada goes on to say, “Listing Prices: Realtor.com’s April 2021 report shows Atlanta is a seller’s real estate market, which means that more people are looking to buy than there are homes available. Home prices have been surging largely because of limited supply and fierce competition for available homes. The median list price of homes in Atlanta, GA was $379,900, trending up 16.9% year-over-year while the median sale price was $345,500.
It’s Unanimous :
Atlanta Realtors states in that in April “residential sales were at 6,896, an increase of 28.2% from the previous year”. They also back up the supply and demand factors that fuel the current state of the housing market in Atlanta. Atlanta REALTORS® President Cynthia Lippert says “Sales are continuing to remain strong with an impressive 28% increase over 2020.”
The Good News :
What’s the good news? The good news is that regardless of whether you’re buying or selling… products are moving. But if you’re buying you must be ready willing and able. Think fast, move fast and know what you want.