As a real estate expert, I have seen the highs and lows of working in the housing market. The past few years have been tough for American home sales, including homes in the Mableton, Smyrna, Vinings and the surrounding areas of Marietta and Cobb County.
But just as the Atlanta Braves can march back to the playoffs, the housing market can also pick up speed. Ready for the good news? U.S. home sales are at their highest since May 2010!
According to the National Association of Realtors and the Commerce Department:
- Sales of previously occupied homes rose 7.8% in August to their highest level in more than two years
- Homebuilders broke ground on 2.3% more homes and apartments in August than July
- New home construction has increased to its best rate since April 2010
- Homes are selling more quickly now then they were this time last year. In August 2011, the median timeframe for sale closures was 92 days. August 2012’s median is 70 days
- The average price of homes fell slightly in August, but that average is 9.5 percent higher than prices a year ago. The reason for the price gain? Sales of foreclosed homes and short sales have declined, and it’s foreclosures and short sales that can bring down overall home prices
The housing market is making steady progress after years of small gains. If you are considering buying or selling a home in Marietta, these new statistics may give you the vote of confidence you need to take that next step!
Also remember to consult your real estate agent. He or she will give you the advice you need to get started. You may also want to converse with your local banker, financial consultant or insurance agent as well before dipping your toe into the real estate market.
Mac Scheidegger BIO:
Mac Scheidegger is the owner of STEP Realty, Inc., a Mableton real estate agency focused on helping clients with every stage of the home buying and home selling process . With over 16 years in the Mableton, Smyrna and the Vinings area, Mac is a local real estate expert. Mac can be found at www.steprealty.us