Why Home Sales Are Down While Buyers Remain Motivated

Georgia home sales

Regardless of whether the housing market is favoring buyers or sellers, sales are more often than not driven by interest rates, the economy and government subsidies. Right now, we’re looking at relatively good interest rates for buyers, an economy that is growing steadily if not rapidly and favorable lending regulations from the state government. And yet, we aren’t seeing an increase in home sales. If fact, it’s the opposite.

Through the end of the summer and now into the early part of the fall season, sales are down. But why? At The Premier Group Real Estate Firm, we decided to look into the lackluster home sales of late in the Atlanta Metro area to see if we could figure out why things have been so slow in what should be a favorable market.

Too Few Houses?

Could a lack of homes being put on the market really be the culprit? It seems like it may be. Inventory has only declined marginally since this time last year from a national average perspective. However, the South as a whole is below the national average and it doesn’t seem like we’ve been spared here in Woodstock. So it could stand to reason that a decrease in available homes, and hence an increase in pricing, could be the problem.

Buyers Are Motived but Sales Are Down…

The market does not seem to be suffering from a lack of interested buyers at the moment. But for some reason, sales are down. One reason could be attributed to a 5.6 percent increase in median home prices since last year. According to an article put out by the National Association of Realtors, the average home price was $253,500 in August. Match this with stagnant wage increases nationwide and it could explain why a seemingly healthy pool of motivated buyers aren’t biting. Or maybe it’s what’s keeping them from listing their current homes in the first place.

Regardless, things do seem to be favorable for an increase in sales. Watch for prices to fluctuate and potentially drop. This could be a good sign that sales are on their way to picking back up again! If you’re curious to hear more or want to look at some of our current listings, make sure to contact us at TPG today.

Staging Your Home for Best Results

Did you know that properly staging your home can increase its selling price by up to 10% and decrease the amount of time it spends on the market? Here at The Premier Group, we know how to sell homes in the metro Atlanta area. Check out these staging tips to increase your home’s selling value:

  • Ask Your Real Estate Agent! Your Premier Group agent is your partner on the crazy journey that is selling your home. We want your venture to be successful just as much as you do, and we have the know-how to make it happen.sold sign
  • Paint. Neutral colors will show your space to its best advantage. Potential buyers will be able to project their own tastes on a warm neutral palette, and warm colors invoke feelings of comfort and peace.  
  • Declutter. The more stuff you leave out, the smaller and more cramped a room looks. Remove personal items, collections, excessive decor, heavy furniture, etc. Pay special attention to the kitchen, where so many appliances and tools can wind up on the counters.  

  • Clean! Everything should be sparkling clean, especially in the bathroom. Pay special attention to the grout. Consider investing in a professional cleaning service to make this easier on your family.

  • Ask a Friend.

    Hav

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    a friend walk through your staged home as if they were a potential buyer. What do they notice? What do they love and hate? Fresh eyes will often pick up on things you’ve missed. 

Contact us for tips about the latest real estate trends, and to find out how The Premier Group can help sell your home faster!

Home Buyers: Don’t Overlook 3 Elements of Your Next Home

home buyersBuying a new home is an exciting and daunting prospect. When searching for a new home, it’s easy to get tunnel vision and miss important aspects of home ownership. Before making your purchase, consider elements of house buying that many people overlook.

Let The Premier Group experts help you find your dream home today!

Check out why these three elements of house buying are so important to consider.

Floor Plan & Lot

Painting walls and replacing carpet are two of the ways to “nest” and turn your ideal house into your dream home. However, there is a limit on how much you can alter your new home. If you don’t like that the master bedroom is upstairs or that your backyard is next to a busy street, consider buying a different home that meets all of your wishes.

Environment Around Your Home

Before house shopping, explore the area outside of the neighborhood. Is your new home near a railroad or hospital? The sound of a train or an ambulance may wake you at night. How far away is your favorite place restaurant, your child’s school, or the office? Determining how far you’re willing to travel to commonly visited places is one element of house buying that will have a major impact on everyday life.

Present & Future Lifestyle

It’s common to buy a home based on the needs of your current lifestyle. A two bedroom, one bathroom home is great for a family of three. However, if you’re planning to have more kids, you may quickly outgrow your little home. When you’re looking for a home, consider your future family and future self, and choose a home that fits those specifications.

Consider more elements of house buying that often go overlooked. Determine the most important aspects of your dream home, and then let us find it for you! Contact The Premier Group today.