The Beacham Insider – December 2012

Posted on December 15, 2012

The Beacham Insider - December 2012Atlanta home prices extended a streak of year-over-year gains to seven months and the rate of appreciation accelerated with prices rising 22% in October 2012 compared to October 2011. In fact, Atlanta home prices are now rising faster than the rest of the country according to the National Association of Realtors. The key factor driving the market is a drastic lack of inventory. The number of homes on the market is the lowest in 12 years according to FMLS. It would take just four months to sell all the houses on the market in Atlanta at the current rate of sale. Some parts of the market are not performing so well, however. Sales of homes priced more than $3 million are down 67% from 2011, while sales of homes priced more than $2 million or more are down 33%. There currently is a nearly four-year supply of inventory of homes priced more than $2 million.

Click here to read more in the December 2012 issue of The Beacham Insider.