ATLANTA — While the economy continues to struggle, the real-estate market in metro Atlanta continues to thrive.
“It is insanely hot,” Elizabeth Denney, a realtor with Johnny Walker Realty in Marietta said. “It is fire extinguisher hot for sure.”
First time home buyer Ensley Nichols knew exactly where she wanted to be, but in this seller’s, market getting there wasn’t easy.
“We didn’t know if we were going to get the house or not, because it was kind of nail biting,” Nichols said.
Finally, after offering to pay closing costs and writing a heartfelt letter to the seller, she and her fiancé got their dream house near the Marietta Square.
“The letter is what got us the house because the other offer was the same amount,” Nichols said.
Home buyers across the metro are facing the same reality; despite a struggling economy, it’s a strong seller’s market.
“If you had told any realtor how good the market was going to be during a pandemic, economic crisis, civil unrest. it’s been a fantastic market,” realtor Kyle Embler with Ansley Atlanta Real Estate said.
The hot market is driven by low interest rates and a low number of homes for sale, according to Embler.
“I don’t think that it’s a bubble,” Embler said. “We’re just living in an extraordinarily good market.”
He says Metro Atlanta home prices are up roughly ten percent from last year.
Embler also believes another factor in Atlanta’s strong market, continues to be the large number of people moving here from out of state.
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