It can be easy to forget, but while skimming through the news of the day, there are usually opportunities hidden within changing circumstances—even those presented as thoroughly unfavorable. Last week, the investment strategists at SeekingAlpha.com offered a view of the state of the U.S. housing market that wasn’t widely available elsewhere. If nothing else, it offered a positive note that Forsyth County real estate watchers could appreciate.
A case in point was last week’s article that emphasized a different take on the soaring mortgage rates and falling home sales numbers that inspired gloomy commentaries elsewhere:
“Housing market becomes more balanced as falling home sales lead to higher inventory”
The upbeat headline was followed by a real estate industry leader’s assessment that the market was indeed “making steady progress toward balance.” The details that followed did seem to confirm that point of view, although they were hardly grounds for breaking out the champagne:
• In August, U.S. home sales in 53 metro areas fell 9.7% from a year earlier—with one result that buyers were now presented with more options.
• One option was an increase in the choices U.S. buyers were now being offered— year-over-year, a 30.4% increase.
• For those who will need to buy after they have sold their own home, the wider inventory “is a great opportunity.”
• For a long time, the standard definition for “balanced market” conditions was agreed to be six months of inventory—but changing homebuying patterns and the evolution of technology had redefined “balance” to equal four months.
• Now for the first time in nearly two years, inventories had swollen to two months’ worth—steady progress toward the new four-months mark and “balanced market” conditions.
In a completely balanced market, conditions favor buyers and sellers evenly, so it is considered a healthy state for normal commerce. Those latest numbers may not quite be a reason to pop any corks, but Forsyth County real estate watchers probably can appreciate the rays of light within them. Remember, some of the biggest gains can be found in real estate in a softer market, so if you are considering listing or buying, don’t let any of the headlines dissuade you from doing what is best for your family now. Call me anytime for the latest South Forsyth County real estate results!
Please feel free to call or text me at 404 710 0204 (or drop me an email) if I can provide you with more information about this article, or if I can assist you with buying or selling Forsyth County real estate.
This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.
I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.
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News of Progress Toward a Balanced Forsyth County Real Estate Market
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