Tuesday, December 23, 2008
November Sales in Gwinnett County
There were approximately 375 houses sold in Gwinnett county in November based on a quick look in FMLS. November last year there were 664 houses sold. The National Association of Realtors reports that the current inventory of houses listed for sale stands at 11.2 months - meaning that at the current rate of sales, it will take 11.2 months to sell all the homes currently listed.
Wednesday, December 17, 2008
Foreclosed Properties Rejected by Buyers
According to a recent study referenced by the Atlanta Business Chronicle, more than half of home buyers are not interested in buying a home in foreclosure. That is good news for sellers in the short term, but it is bad news for the market. Ultimately this will drive down the price of foreclosed properties even more which will then lead to a reduction in the value of all home prices.