Metro Atlanta, Gerogia Real Estate Market, North Georgia, REO Sales

After four LONG years of declines, home sales on a national basis finally appear to be turning around. Closed sales,which have risen three straight months, and pending contracts, up for five straight months, are at levels above normal spring and summer increases.

First time home buyers are stepping up to take advantage of the deeply discounted prices. low mortgage rates, and the buyer tax credit.

Whats more, home prices and mortgage payments in relation to income are comfortably below historical levels. That suggest home prices have overcorrected downward.

Still, the housing market is FAR from being out of the "doldrums". But because consumers view of home values is changing, the momentum raising home sales will likely continue in 2010 I do not see buyers  as hesitant about home purchases  on the fear of further price declines. This help sets the stage for a steady release of the pent-up housing demand.

If anyone is looking for help...call me today or email me at markkimball@mindspring.com