In 2012, we have seen positive changes in the real estate market. In a recent article in The Wall Street Journal, it was noted that home prices are on track to post their first yearly gain since 2006. Last Wednesday, the Standard & Poor’s/Case-Shiller 20-city index showed that prices rose by 4.3% from a year ago in October. Home prices are up 6.9% since January which is the largest year-to-date gain since 2005. The basic economic principle of supply and demand has caused the positive change in home prices. The supply of housing has decreased while the number of buyers has increased over the past year. Sales of existing homes in November were up 14.5% from a year earlier putting them on pace to reach their highest level since 2007. Record low mortgage rates, rising rents and steady job gains have caused the traditional buyer, one who is going to live in the property, to return to the marketplace.
Here at Epic Development, we have seen an increase in demand for new construction. Most of our homes go under contract during the early stages of construction. View all the details of our current listings here. For more information about homeownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. For more information about commercial real estate operations or investment visit EpiCity.com.