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Notebook and Pen


Are home prices up or down?

Today the Wall Street Journal posted an article saying "U.S. HOME PRICES POSTED FIRST ANNUAL DECLINE SINCE 2012 IN APRIL." We all know that media thrives on sensationalism and especially negative news. I suggest that whenever you see any report on "national" averages, that you take it with at least 6 grains of salt. Home prices are always local - even hyperlocal! Even two adjacent school districts in one city can have huge variations in prices and appreciation. When you are looking to buy a home in any market, rely on the local real estate experts. The Atlanta metro average home price hit a record high of $477,195 in May. This record price surpassed slightly the previous record of $475,960 recorded in June of 2022. Always be careful when you hear the word "average."

I was asked recently when would be a good time to buy a home. The answer is - when you're ready, willing and able to do it. Real estate values have ALWAYS rebounded after a down market. Interest rates fluctuate, and if/when they go down, refinancing is always an option.

If I can help you in your search in the Atlanta Metro, primarily the northern suburbs, I would love to lay out a detailed plan of all of the ins and outs, risks and benefits of home ownership.

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Content by Al Maxwell Marietta Realtor®

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