Chris Slusher with The Private Bank capital Markets in Chicago Illinois, reports that purchases of new homes exceeded forecasts in January after climbing to a one month high in December, providing further evidence that the housing market is stabilizing. New home sales fell .9% in January to an annual pace of 321,000 units from a revised 324,000 pace in December that was higher
than previously reported. Purchases fell in two of four regions, led by a 25% drop in the Midwest and a 11% decline in the West. Sales rose 11% in the Northeast and 9.3% in the South. New home sales, which are tabulated when contracts are signed, have lost their ability to forecast the broader market as demand has shifted to previously-owned properties. New homes accounted for only 7% of all properties sold last year. This report continues to reinforce the increased activity brokers around Atlanta are reporting.
For more information about home ownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write
Jim@EpicDevelopment.com. You also can view all of our current residential listings here.
About the Photo: Epic Development’s, Atlanta Home Builders Association 2010 winner of 5 Obie Awards, striking Mid-Century Modern in LaVista Park. From the moment you step into the gallery entrance of this home, you will experience a new standard in sophisticated in-town living. Open floor plan with 11′ ceilings in the living room and gallery, oversized chef’s kitchen with Viking appliances, curved accent walls, huge master suite, lower level work out or media room, 3 car garage, custom deck with outdoor fireplace, sod in front and rear yards with sprinkler system.