January Newsletter

Real Estate Newsletter

January 2023

Hi Friends. I am starting a quarterly email newsletter to keep you updated on the current conditions and trends in this ever changing real estate market. Don't worry, it's just quarterly! I suspect there is no one more aware than me of the annoyance that comes from too much blanket communication such as this. However, there is no need to unsubscribe because this will not be blowing up your inbox on a frequent basis. My goal of this newsletter is to be brief and provide some genuinely interesting and useful content. 

Metro Atlanta Housing Stats

Housing stats were pulled by me from all of fmls and are including attached and detached residential properties. Jan 2023 stats are from Jan 1st - Jan 13th. If you would like these stats for a specific neighborhood or area just ask!

Mortgage Rate Stats

Mortgage rates were pulled from Freddie Mac. Rates are published on a weekly basis however I've used the rate from the first week of each month shown. 

Housing Market Outlook

The housing market has certainly changed a lot over the past year. 2022 started off hot and got hotter. The spring and summer were a dream come true if you were selling your house. You could name your price and then expect tons of offers above that price. However as the mortgage rates rose sharply in the fall the hot housing market began to slow. There was a lot of uncertainty about rates and the economy and that caused many buyers and sellers to hit the pause button. Fast forward to now; rates have leveled off and there is even a slight decline over the past couple of months. My take is that the market will regain a level of (new) normalcy as this year progresses. There are still relatively low amounts of inventory and now that rates have leveled I think buyers on the sidelines will get back in the market. It will be very interesting in my next newsletter to see what the first quarter stats show. 
 
Here is what you can expect currently as a:
 
Buyer: Higher rates than most of last year but not still rising. Also, you are not married to a rate for the life of the loan. In most cases you have the ability to refinance if the rates drop. Less competition when making offers. In some cases more ability to negotiate on the purchase price and possible seller concessions. Less pressure to skip doing inspections or remove an appraisal contingency from an offer. 
 
Seller: Less demand than last year but still a good market for sellers. It is much more important than last year to price your home correctly and present it in the right way. Homes that look good and are priced well still fly off the shelves.

 
-The National Association of Realtors has declared metro Atlanta the “top real estate market to watch in 2023 and beyond” in a new report.

Thanks for reading and please feel free to reach out if you have any questions / comments. My business thrives on repeat clients and referrals so a BIG thank you to everyone who supports me in these ways! Ready to achieve your next real estate goal?

Reach out to chat!

Steven Schuerman
 
Realtor®
M: 404.725.3863
O: 404.668.6621
[email protected]

Office: 404-668-6621

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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