Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
This area of the market has performed very well as I noted above. May and June were ahead of 2019 by 30% in pending home sales, and overall values appreciated by an average of 4% from 2019. Most of this gain was seen in homes under $600,000. In some cases, properties over $700,000 have seen a small drop in listing price, but those reduced prices are still in line with values from 2019. We have seen a pent-up demand drive a lot of this activity. Home buyers came out of the gates strong in May and so far the activity remains strong.
| ALL EYES ARE ON THE AMERICAN ECONOMY. AS IT GOES, SO DOES THE WORLD ECONOMY. WITH STATES BEGINNING TO REOPEN, THE QUESTION BECOMES: WHICH SECTORS OF THE ECONOMY WILL DRIVE ITS RECOVERY? THERE SEEMS TO BE A GROWING CONSENSUS THAT THE HOUSING MARKET IS POSITIONED TO BE THAT DRIVING FORCE, THE TAILWIND THAT IS … Read More
Thankfully, it is not raining today in Athens. I truly believe that the rainy weather has slowed the spring market here in town. In recent years, the real estate market would usually heat up in January, but this year I feel like we were a little late getting underway. I know a lot of realtors … Read More
The first month of 2020 is behind us and at this point the real estate market looks very similar to last January. The amount of sold homes in Clarke and Oconee county is almost even when compared to January of 2019. We feel the true numbers are above Jan 2019, because we have seen more and more properties sell off market, and these off market sales don’t always make it into the MLS
Well it looks like it has been six months since I last posted an article on this site. For the most part, that is a good thing because we have been extremely busy this year, and I have not found much time to write or post to this blog. Meanwhile, I am sure no one … Read More
My basement is full of firewood that I have yet to burn because the weather been has so warm this winter, and just like the weather in Athens the real estate market has been historically HOT in 2017. It is truly amazing just how fast some things are moving. I have lived in Athens for … Read More
We are a few days away from 2017 which is an ideal time to look back at the year that was in Athens real estate. Clearly, 2016 was an interesting year, and the overwhelming story of 2016 would have to be the Presidential election because it was very polarizing and ultimately quite surprising. It seems half … Read More
Most of you probably have an idea or at least a decent understanding of what constitutes a condominium, but just in case I will try to clarify it a little bit. In general, a condominium is a unit or space that can be purchased inside a larger building. When a person owns a condo they … Read More
Well here we are at the end of another year, and pretty soon 2015 will be over and in the books. As I get older, I find the old sayings are often very true. For instance, people often say, “The older you get the faster time seems to move”, and I totally agree. Maybe it … Read More