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    2016 Real Estate Market Outlook

    Metro Atlanta to be a Top 5 Housing Market

    Atlanta will be one of the hottest real estate markets in the country and is ranked in the Top 5 up-and-coming metropolitan markets. The Atlanta real estate market includes Marietta, Woodstock, Canton, Roswell and other local communities, is predicted to be one of the nations Top 5 real estate markets in 2016.

    North Metro Atlanta Real Estate Forecast

    2015 was a big year for Atlanta’s local housing market. Becky Babcock says, “Our local market transitioned from a buyer’s market to a seller’s market last year and we expect home prices to rise in 2016.”

    2016 should bring more good news to local sellers. Median home prices are expected to rise 9.6% and existing home sales are projected to increase 7.4%, as noted in 2016 forecast.

    Housing Predictions:
    +7.4% existing home sales
    +9.55% median sales price

    *Data based on single-family homes


    Mortgage Rates 2016 Forecast

    Last year, mortgage rates moved within a fairly close range. Conventional 30-year fixed-rate mortgage rates averaged 3.59%, according to Freddie Mac. At their highest, rates averaged 4.09%. Not since 1998 have rates moved so little during a calendar year.

    According to The Mortgage Reports, what happens to rates in 2016 is anyone’s guess. “Rates could follow the Fed Funds Rate higher, or they may buck their recent trend and reverse lower as the year progresses”.

    Buyer Advice

    If this is the year you need to make a move, then do it as soon as you can. With prices poised to increase, buying early could save you from paying a premium for the same property. Supply should increase, but so will sales and this means inventory options will remain low all year. Be sure to save your search criteria to be auto-notified when a new property hits the market so you can be the first to consider the opportunity.

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    Seller Advice

    If it’s time to sell your home, this is a good year to do it. Buyer Demand continues to outpace the supply of homes For sale, which means prices and total sales are projected to increase. Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!

    What's Your Home Worth?

    Path & Post Promise

    As the top real estate team in Cherokee County and the No. 1 ERA team in the U.S., we put a lot of posts in the ground marking properties for sale. But those posts mean more than listing homes for sale. They mark the beginnings and ends, turns and forks that our clients are taking in life.

    We promise to always seek to understand your unique story. We want to know your hopes, fears and dreams. Our team is here to help you along your path, guiding and supporting as needed. We are like the sign post at the beginning of a trailhead, pointing in the right direction and explaining the obstacles ahead. Like a reliable guide, we walk with you along every step of your journey to a new home.

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    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the North Metro Atlanta area.

    Cheryl Cloud

    Cheryl Cloud NMLS# 545242

    Senior Mortgage Originator
    BankSouth Mortgage
    175 Townpark Drive, Ste 125
    Kennesaw, GA 30144
    Visit my website
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    Mobile: (404) 310-3753
    Fax: (678) 680-5677

    Let me know how I can assist you with your North Metro Atlanta mortgage needs. I am here to help!

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