If lack of homes for sale is the Atlanta market’s key woe, the situation has continued to worsen – except in Cobb County, according to a report Tuesday from Re/Max Georgia.
Homes for sale – inventory – has been falling for more than a year, increasingly tilting the market in favor of sellers.
A healthy market typically has an inventory about equal to six or seven months of sales, experts say. Metro Atlanta has consistently been roughly half that level or even lower.
Of course, that situation is good if you are selling a home. And the imbalance between supply and demand is a big reason why prices have been rising in the region.
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In the past month, Fulton County had the highest level of inventory among the region’s core counties: 3.0 months. That was 17 percent lower than a year ago, according to Re/Max.
Cobb had only 2.0 months of inventory, but at least it hasn’t lost ground in the past year, said John Rainey, vice president for Re/Max Georgia. “For buyers, this may mean more options in their price range.”
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Inventory levels for April, by county
County ......... Level ......... change from last year
Cobb 2.0 months 0%
Gwinnett 1.9 months -14%
Fulton 3.0 months -17%
DeKalb 1.9 months -21%
Clayton 2.1 months -28%
Source: Re/Max Georgia
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AJC Business reporter Michael E. Kanell keeps you updated on the latest news about jobs, housing and consumer issues in metro Atlanta and beyond. You'll find more on myAJC.com, including these stories:
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