Tripp Cook, Communications & PR Director
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Home prices continue to rise last month in metro Atlanta, while the number of sales declined, according to the Atlanta Realtors Association.
Home sales last month were a lot stronger in Atlanta last month than in November a year ago, especially in Gwinnett Country, according to a report released today.
"Consumers want to live in the market in which they work," said Lane McCormack, president of the Atlanta REALTORS®.
Lane McCormack, the president of Atlanta Realtors, said interest rates spurred some of November's sales.
"This increase was partially due to buyers' concerns over the potential rise in interest rates in the upcoming months and uncertainty over the Presidential election," she said.
For people buying their first homes, “It’s very difficult to find a product for them that they can afford,” said Lane McCormack, president of the Atlanta REALTORS®, adding that starter homes in her area can fetch $300,000 to $400,000.
Inventory – that is, the supply of homes for sale – remains low, said Lane McCormack, president of Atlanta REALTORS®. “Therefore, it’s still a seller’s market in most areas of Atlanta.”
Metro Atlanta’s most-influential real estate and development associations today launched the Unlock ATL campaign in an unprecedented effort to raise awareness of and gain support for the critical transportation referenda on the Nov. 8 ballot.