Housing market optimism may be rising, but is it in Atlanta?
The word “foreclosure” isn’t being used as much these days as it used to. The economy has started to climb out of the basement. And as it has, the housing market has been recovering, too.
There are still many people who find themselves confronted with financial hardship that includes the threat of foreclosure, to be sure. If they are wise, they are working with an attorney who can help them assess their options for stopping foreclosure. Still, the signals of recovery have not gone unnoticed in Atlanta.
Giving evidence to the change is a new Gallup poll on the economy and personal finance that was recently conducted. According to Gallup, its survey of more than 1,000 people last month showed that 56 percent of respondents are of the opinion that average home prices will rise in 2014. Another 34 percent think they will hold steady. Only 10 percent think prices will fall.
In the Atlanta area, the assessment of the market seems to depend on whose analysis you choose to go by. According to one observer writing for Realty Biz News, Atlanta remains a soft market for sellers. She points to RealtyTrac data for smaller cities in the greater Atlanta area that show that sales have declined at rates in the double digits. She says the current state of things means there are good opportunities for buyers who know where to look.
Meanwhile, the Atlanta Business Chronicle points to numbers from the CoreLogic Case-Shiller Indexes that indicate Atlanta area home prices rose 17.8 percent in the last quarter of 2013, compared to the last quarter of 2012. And CoreLogic predicts metro Atlanta home values could rise another 2.9 percent in the last quarter of this year.
Which assessment sounds right to you?
Source: US Finance Post, “Gallup Poll Finds Increasing Optimism About Housing Market,” Christine Layton, April 25, 2014
Source: Realty Biz News, “Atlanta Housing Still Has Bargains – If You Know Where To Look,” Donna S. Robinson, May 13, 2014
Source: Atlanta Business Chronicle, “Metro Atlanta home prices jumped 18% at end of ’13,” May 13, 2014