AJC Article Reports Falling Housing Prices
I am attaching a link to an article as reported in the AJC about home prices falling (nationwide). One really needs to understand that these are national averages as reported by a national AP journalist. But what does this mean for Atlanta?
To really understand what is happening in YOUR market, you have to look at local and relevant housing sales that affects YOU. If someone asks me, are home prices increasing or decreasing, the answer is….it depends. It depends on what area of the city and or county that you live, it depends on the price point that you are looking at and it depends if you are looking at single family homes, condos or townhomes. I believe these “nationally recorded” number are really irrelevant. Certain markets (i.e. San Francisco, etc) who have had outrageous annual increases are readjusting. It doesn’t mean the rest of the market is.
Personally, the AJC is a local paper and should be reporting on local information, including what is really going on in the Atlanta marketplace. Contrary to what you read, the sky is not falling. Does it take longer to sell a home? On average, it may. If your home is in outstanding showing condition and is properly marketed relative to the competition, your home will sell before the rest.
Here is an excerpt from the article:
S&P: Home Prices Worst Since ‘94
AP Business Writer
NEW YORK — Prices of single-family homes across
the nation depreciated in January compared to a year ago, the worst results in
more than 13 years, a housing index released Tuesday by Standard & Poor’s
showed.
The data underscored disappointing sales data released by the government on
Monday.
