Atlanta Real Estate Market Trends For August 2013. View the latest real estate inventory, sales and market stats as presented courtesy of Prudential Georgia Realty
2. 125,000 Homes Sold In 2006. 60,000 Homes Sold in 2010. 2013
Closings Down Due To Low Inventory And Higher Fallout Rates.
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140000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Atlanta Homes Sold
6. Listed Inventory July 2011 – July 2013
Residential Detached - Metro Atlanta
• Inventory Levels Down 13.1% from July 2012, 45.1% from July 2011
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5000
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15000
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30000
35000
Inventory Up
21.8% From
February 2013
7. 6.2
4.9 5.0
4.3
4.0 4.1
3.8
4.4
3.9 4.0 3.9
4.6
4.2
3.5 3.4
3.0
3.4 3.5
7.4
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Jan
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Sept
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Metro Atlanta – Months Of Supply
(Based Upon Closed Sales)
6 Months Is Considered A Normal Market
9. Investors See The Opportunity
To Buy Low, Lease & Sell High
For Single Family Properties!
This Is Causing A Shortage Of
Inventory Under $200,000.
10. Average Sales Price Up 41% In 2013
$184
$201
$217
$233 $240
$249
$260
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300
Jan Feb Mar Apr May Jun Jul
Metro Atlanta 2013 Average Sale Prices
11. Average Sales Price Increasing From Bottom Of 2011
$241
$253
$261 $268
$209
$189 $190
$176 $183
$226
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300
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Atlanta Average Annual Sale Price Trend
12. Chart Shows Index Results January 2010 Through May 2013
(As Reported July 2013)
80
85
90
95
100
105
110
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Jul
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Case-Shiller Index For Metro Atlanta
15. • Georgia Lost 325,000 Jobs In The Great Recession.
• 2012 Restarted Positive Job Growth Trend!
-250,000
-50,000
-25,000
68,400 63,300
76,500
94,400
-300000
-250000
-200000
-150000
-100000
-50000
0
50000
100000
150000
2009 2010 2011 2012 2013 2014 2015
More Jobs In Georgia!
(Data From Terry College of Business/ UGA& Georgia State Economic Forecasting Center)
21. • New Household Formation Dropped From 1.2 Mil (2006) To 400,000 (2008)
• Growing To 1.2 Million In 2013. Lots Of Pent-Up Demand.
• 4 Million Students Per Year Graduate From College For Next 10 Years!
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600000
800000
1000000
1200000
1400000
1995-
2005
2006 2007 2008 2009 2010 2011 2012 2013 2015
U. S. Household Formation Trends
Demand For 1st Time Buyers Will Be Strong!
Source: U.S. Census, JCHS Household Growth Projections, Goldman Sachs
22. Prices Improving and Mortgage Rates Rising.
But Home Affordability Remains Historically Favorable.
207
187 187
197 194
160 154
146 141
116
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Q1
2012
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2012
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2012
Q1
2013
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2013
Q1
2014
Q2
2014
National Housing Affordability Index
(Combination of home prices and mortgage rates)
27. Metro Atlanta Closings
Blue – Resale Red – New Homes
New Homes Closings Up 55% From Last Year. Resale Units In 2012 At Levels Not
Seen Since 2006. But Almost 50% Of Resale Units From Investors Under $200k.
28. Buyer Types For New Homes
First Time Buyers And Baby Boomers Remain Most Active Segments.
We Are Looking To See The 1st & 2nd Move-Up Buyers Return.