This month, North Georgia Mountain home sellers have seen more than the usual number of reasons to look forward to this Spring’s Blairsville GA home sales selling season. It looked like the opposite of the lengthy real estate “Perfect Storm” that caused free fall across the national landscape.
Signs pointed to the possibility that we may be headed into the opposite market conditions. Webster’s Dictionary says the opposite of ‘storm’ is ‘calm’ – but I don’t think you would call town’s home sales outlook a “Perfect Calm.” Far from it!
Some of the signs:
– Falling Inventory. Per the NAR’s Existing Home Sales Report, there’s a nation-wide shortage of total inventory. By the end of January, it had fallen another 4.9%: lowest in seven years. Raw unsold inventory hasn’t been this low in 14 years!
– Rising Demand. Per this month’s National Association of Home Builders’ News and Alerts bulletin, “housing demand continues to return.” NAR Chief Economist Lawrence Yun, pointing to buyer traffic that is up 40% over a year ago, states flatly, “We’ve transitioned into a seller’s market in much of the country.”
– Buyer Attitude. Also this month, the Conference Board’s Consumer Confidence Index showed a rebound from January. The ‘Present Situation’ index rose sharply (from 56.2 to 63.3). This remains the only less-than-stellar point of contention, I think one area could be a tip off to gathering strength: the proportion of those expecting their income to rise is now growing, those expecting the opposite, falling.
If this Spring turns out to be the opposite of a Perfect Storm for Blairsville Georgia home sales, will conditions improve further? Should sellers wait? The falling inventory measure might suggest otherwise. If the NAR’s appraisal is correct, now that these trends are consolidating, “…it would seem likely more inventory would come to market.”
If you are a Blairsville, GA. home seller who’s been waiting and watching for the right moment to enter the North Georgia Mountain home sales listings, I hope you will consider giving me a call soon. Actually – today might not be a bad time!