How is Covid 19 impacting the Atlanta housing market? Below we look at June ’19 vs June ’20 for eight area cities; both inside the perimeter and out. We compare major market indices; # of listings, # of sales, months of inventory, sale to list price ratio and median sale price. These are reliable indicators; “smoke detectors” that pop early if/when signs of trouble are starting. Remember, this is a broad look. Every submarket is different and will vary by home characteristics, price range, location and many other things. We dive deep; we can research any market, any where. In the meantime – scroll down and click on a chart to see the details.
Housing Market Trends in Atlanta, Decatur, Brookhaven, Sandy Springs
Housing Market Trends in Alpharetta, Johns Creek, Roswell, Marietta
- What pandemic? To this point (4.5 months in), the economic impact on the greater Atlanta housing market is negligible. This is not 2009-2010; inventory isn’t overflowing and mortgage loans are not being handed out like candy corn. So far, there are no red flags (other than 40 million out of work).
- Historically low mortgage rates, modestly rising prices (the best kind) and a shortage of quality inventory keeps wild price swings at bay.
- The next quarter brings schools into the mix. Some area schools already declared everything is virtual. This will impact household income as dual income homesteads will be hampered.
- “Opening” the area remains unsettled. As the virus lingers, companies push back restart dates. This ripples across every job market; from airlines to restaurants to hotels to major retail.
- The presidential election will have a major impact; the parties cannot be more different in plans for a recovery. Wall Street and the global markets will move one way or the other. Buckle up.
The huge positive as of this point is the remarkable resilience of the greater Atlanta area housing market. So far so good in the face of wide spread adversity; the vital signs are strong. The main buyer challenge right now is finding and securing “that solid listing”; when things pop they are immediately hit by a mob. The main seller challenge is evaluating the offers; finding the one that maximizes return and makes it to closing. We meet both challenges every day, give us a call…