Georgia Housing Market Holding Steady in March 2019 by Angela Simmons
The Federal Reserve recently announced that no further interest rate hikes are planned for 2019. Given the fact that the federal funds rate has increased nine times over the past three years, this was welcome news for U.S. consumers, this pause in rate hikes was welcome news to the residential real estate industry.
Georgia Housing Market Holding Steady in March 2019
The Georgia housing market posted steady numbers for March:
- New Listings decreased 1.1 percent to 18,483.
- Pending Sales were up 0.5 percent to 13,911.
- Inventory levels grew 1.5 percent to 41,463 units.
- Median Sales Price increased 4.4 percent to $222,000.
- Days on Market was down 9.1 percent to 60 days.
- Months Supply of Inventory was down 5.3 percent to 3.6 months.
Sales totals were mixed across the nation and sometimes dependent on what was a persistent wintry mix, especially in the Great Plains, Midwest and Northeast. Meanwhile, new listings and total homes for sale have been trending lower in year-over-year comparisons in many areas, and last year's marks were already quite low.
This is a Seller's Market, if you are interested in a Market Consultation, a Free Monthly Market Report, or advice on when you should place your home on the market, give me a call (678) 412-0373 or (844) 385-SOLD.
The KEY To Your Real Estate Experience, Premier Homes By Angela