Is The Atlanta Market A Home Buyer’s or Home Seller’s Market?

 

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Buyer’s vs. Seller’s Market

First it is important to realize that just because a metro area or region is in a buyer’s market does not mean that your particular subdivision or community is in a buyer’s market in and of itself.

Due to the desirability of your area or community it may be in a seller’s market.

If your subdivision has very few homes on the market, a strong school district and other highly desirable amenities it could be a high demand community and hence, a seller’s market.

Having said that, in general in the Atlanta area and most metro areas of the United States a three to six month supply of homes on the market indicates a normal market.

Two months or less is seen as a seller’s market, and more than six months is a buyer’s market.

In the Atlanta area the supply of homes in 2010 is down from that of 2009 but we are definitely still in a buyer’s market with a more than 6 month supply of homes currently on the market.

I look for the Atlanta area to be in a buyer’s market until at least 2012, however as I mentioned above many communities in Atlanta may show signs of a seller’s market in those areas but the metro area of Atlanta in general will still be in a buyer’s market in my opinion.

Another way of looking at it is that if you have a market with more buyer’s and few seller’s—then you are in a seller’s market.

If you are in a market that has less buyer’s and more seller’s then you are in a buyers market. We are currently seeing the latter.

We now have very high inventory and a limited number of buyer’s due to job losses, tighter lending requirements, uncertainty in the economy and the like—and it will be many months if not years before we see a significant turnaround in my opinion.

Buyer’s now want to spend less and get more.

Many builders are recognizing this fact and are now providing upgrades and other incentives to lure reluctant buyer’s into their subdivisions.

Realtors throughout Atlanta and other large metro areas are having difficulty finding buyer’s in large numbers as the current economy does not favor the robust purchase of homes at this time.

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