The
SUMMER
SALES continue to accelerate despite an increasing inventory shortage . The National Association of Realtors commissioned a study that concluded the low inventory is a direct result of decades of underbuilding in the nation ’ s housing supply . The lack of home-building has cost the US economy an estimated $ 4.4 trillion of economic activity .
BUYING power is expected to remain strong , as U . S .
Federal Reserve Chair Jay Powell indicated that he would not raise rates through the end of the year . Despite higher prices , low mortgage rates are saving buyers thousands over the course of a loan , which continues to incentivize buyers to purchase .
SELLERS can benefit by listing their homes now when demand is high and inventory level is low . The current supply of inventory in Atlanta is less than 2 months . Real estate professionals consider a seller ' s market to exist when there is less than a six months ' supply available .
BUILDERS are cautiously optimistic as home construction rose in April . Lumber prices have begun to fall from record highs in May ; however , the demand for land is overwhelming , and the cost is high . Ultimately , these costs will be passed on to the buyer until land demand stabilizes .
* STATS OBTAINED VIA FMLS