November 30, 2012
There has been a quantifiable shift in housing where we can see the real estate market steadily improving upward. This is supported by some modest job gains as well as record low mortgage interest rates. According to nbcnews.com, NAR chief economist Lawrence Yun said, “We’ve had very good housing affordability conditions for quite some time, but we’re seeing more impact now from steady job creation.”
The steady upward climb is being calculated based on a record increase in pending sales. While an increase of pending sales is the measure of contracts and not a measure of closed sales, it points to the existence of other indicators which suggest a strengthening of the housing market. Some of the other indicators include the following:
- Home prices continue to trend upwards in most parts of the country (i.e., the Midwest and the South)
- Construction activity has seen a boost
- Mortgage delinquency rates have dropped
Georgia is among the states that is showing an improvement in the steadily increasing housing prices. Specifically, Cherokee County, is one of the most exciting markets in the nation. Cherokee County has attracted more businesses and is a great location for its excellent education, healthcare and low property taxes.
At The Premier Group in Woodstock, GA, our experience ranges from consistently managing and closing shortsale and distressed properties to marketing and selling luxury homes. When decide to sell your home or purchase a home, don’t hesitate to contact The Premier Group. We are dedicated to being the specialists you can turn to for all of your real estate needs.