Atlanta home price continue to rise

The Case Schiller Index numbers for July came out today.   Atlanta was 5th out of the 20 cities in terms of year over year growth.    At +18.5% for the Metro Area, times are good for those who own Real Estate.       The inventory of  condos, and homes is down significantly from last year.  See the link below and the attachment within it for the details:

This week mortgage rates have moderated for the first time in weeks.  The 30 year on a good day has come down to around 4.25%, the 15 year 3.5%.  When I started buying Real Estate 10 years ago the 30 year mortgage had moved in a consistent cycle of between 6-8% depending on the year.  Sure rates are up from the rock bottom lows, but 4.5% is still a far cry from 7%.

Land prices are rising faster then ever.   Increased land pricing is driving more people to condos and smaller sized housing lots.   This trend helping to drive condo prices higher.  One day, in the not so distant future I still believe gas prices will be the big driver to condo living.  That time is clearly not here yet.   It is coming though.

As always if you have questions about properties you own or perhaps are considering, contact me today.



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