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GEORGIA REAL ESTATE NEWS AND UPDATES

Investors Bought Fewer Homes In January 2015 - Atlanta Business Chronicle


Home sales fell in January as investors bought fewer homes in metro Atlanta, The Atlanta Board of REALTORS reported.

From December 2014 to January 2015, the area had 2,395 home sales -- down 37.1 percent. The median price on those sales dipped 3.3 percent to $203,000.

However, the average sales price was up 5.4 percent to $272,000, The Atlanta Board of REALTORS noted.

Year-over-year in January, homes sales were down 9.7 percent to 2,395.

The median sales price jumped 13.4 percent to $203,000 and the average sales price grew 10.7 percent to $272,000.

Metro Atlanta area housing inventory totaled 13,759 units in January, an increase of 13.6 percent from January 2014.

New listings totaled 4,374, up 17.2 percent from January 2014 and up 54 percent from December 2014, The Atlanta Board of REALTORS said.

The supply for sales over a 12 month period was steady at 3.7.

"Investors bought fewer homes in the month of January, which accounted for the decline in sales,

but that meant traditional sales made up a larger proportion of the market," said ABR President Ennis Antoine.

"Traditional sales tend to come at higher prices.

Low interest rates, rising sale prices, economic expansion and balanced inventory support my expectation that the market will continue its strong and steady growth.

I believe the dynamic economic recovery we are seeing is going to have a major impact on the 2015 Atlanta housing market."