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The real estate market has been steadily climbing for years in the country, but the onset of the COVID pandemic created a rarely seen situation for home buyers with last year the market being scorching hot due to historically low-interest rates.
Millennials, the largest generation, we’re all geared up to buy their first home. Virtually working West Coasters feel they can move to Atlanta and get more home for their money.
In Brookhaven, a realtor from the Keller Williams said of 135 active listings 34 % of homes have price reductions.
This is a shocker because we have been hearing only about people bidding over the asking price for the last couple of months!
Though the market is not flat because they sold a home to Californians who offered 10% over the asking price.
He says the home market in Atlanta is still healthy and stable, and It’s normalizing. So, he suggests that it might be a good time to look again.
Inventory is up, giving more choices to homebuyers said Erik Benjamin a realtor. He states an example of a house that got 41 offers earlier now has 3 offers.
Reference Source: Fox 5 Atlanta
