Market Update

I am sure you have heard the crazy stories the last year regarding the real estate market. However, it’s still a great time to buy and sell your home!
Here is important data coming out for the month of August!⁠

✔️ Signed contracts to buy existing homes increased 8.1% month to month in August, according to the National Association of Realtors.⁠

✔️ Buyers encountered higher inventory and slightly more favorable prices⁠

✔️ Signings were still down compared to last year.⁠

Good news for Georgia: according to Lawrence Yun, NAR’s chief economist, “The more moderately priced regions of the South and Midwest are experiencing stronger signing of contracts to buy, which is not surprising,” Yun said. “This can be attributed to some employees who have the flexibility to work from anywhere, as they choose to reside in more affordable places.”⁠

Here at Area Realty, we believe it’s one of the best times to buy or sell your home!⁠ Read more about the market here: Pending home sales surged more than expected in August after two months of declines