Horton Team Real Estate

There is another glimmer of hope for an improving housing market: builders have reentered the market and are again buying lots on which to build houses. These builders are taking advantage of the reduced price on foreclosed properties, and they are expressing confidence that there will be a market for new homes in the near future.

It may only be a minor and temporary reprieve, but the current inventory level of houses for sale in metro Atlanta has declined from a year ago. The Atlanta Business Chronicle reports that there are 30,000 less houses listed for sale than there was a year ago. Much of the decline has to do with houses simply being taken off the market (withdrawn and expired listings). Those who do not have to sell, are deciding not to sell for less. If this continues, it will be good for the market. Buyers will gradually absorb the glut of foreclosures allowing things to return to normal. It will take time, but at least it is a hopeful sign of better things to come.