The Beacham Insider Volume V, Issue III - Page 8

THE BEACHAM INSIDER
VOLUME V , ISSUE II

BROKER TALK with Nancy Meister

Is the housing market crashing or correcting ?
NM : The housing market is at a turning point from the recordbreaking past two years . The record high demand and record low supply was not sustainable and a new direction will be healthy . The market is moderating , shifting back to the years leading up to the pandemic which were healthy .
DEMAND FOR LUXURY
Despite the largest economic disturbance of our lifetime , the number of luxury home buyers has significantly increased . Demand for luxury homes with more amenities , privacy , and space continues to rise as consumers rethink lifestyles and locations . Global wealth increased by almost $ 60 trillion within the last two years , and real estate assets grew by $ 30 trillion in 2021 - translating to incredible buying power .
Influence rising rates are having on buyers .
NM : Rates were at an all-time low and while they are rising , they are also normalizing . The potential impact on purchasing power for all buyers , but especially first-time home buyers , is real . The good news is price appreciation is predicted to be at a more normal rate and inventory will increase which should result in less bidding wars and fewer multiple offers .
The importance of pricing right in this housing market .
NM : As the market adjusts back to pre-pandemic , healthy levels , pricing is more critical than ever . Our agents are experts that know the value of homes in each market , can assess the condition , understand where the market is headed and are on top of current buyer demand . These are important factors to ensure you are not underpricing or overpricing your home and pricing it to attract the most buyers that will generate offers at or above list price quickly .
Nationally , home prices increased 20.2 % year-over-year in May . No states posted an annual decline in home prices .
Minor Bathroom
Outdoor Living /
Remodel
Landscaping
102 %
100 %
MAY 2022 YOY % CHANGE
RENO PROJECTS WITH HIGHEST RETURN ON INVESTMENT
Minor Kitchen Remodel
98.5 %
Major Bathroom Remodel
93.2 %
Deck / Porch Addition
90.3 %
Key factors driving demand for housing in Metro Atlanta .
NM : The Atlanta metro area has experienced notable job growth projected to add 1.2 million new jobs over the next 30 years . With more jobs comes population growth which is estimated to grow by 2.9 million over the same time period . Atlanta offers more affordability than most other major cities . Predictions indicate the largest employment gains will occur in the health care , scientific and technical , and construction industries .
404.261.6300 | BEACHAM . COM | 3060 PEACHTREE ROAD , SUITE 100 , ATLANTA , GA 30305
If your home is currently listed for sale , this is not intended as a solicitation of your business . This information is believed accurate and is subject to errors , changes , prior sales and withdrawals without notice . Nancy Meister , Managing Broker . Equal Housing Opportunity .