WHAT JUST HAPPENED?
Now, that should be the tagline for Quarter 2, 2020. After you watch the video be sure check out the slides below with more info on the craziness we have all experienced in the past 3 months.
Quarter 2 in Atlanta started off with a complete shut down. But, different than 2008, this time instead of rushing to sell homes, people held on tight and sheltered in place.
As a result, home sales for the year are down significantly. On the other hand, home prices have increased because of the lack of inventory and historically low interest rates.
By the end of the second quarter the real estate market here in Atlanta had rebounded to almost where we were in 2019. That rebound took only 10 weeks, in comparison to the 10 years it took to rebound after the 2008 market crash.
What a wild ride!
Quarter 2 in Atlanta started off with a complete shut down. But, different than 2008, this time instead of rushing to sell homes, people held on tight and sheltered in place.
As a result, home sales for the year are down significantly. On the other hand, home prices have increased because of the lack of inventory and historically low interest rates.
By the end of the second quarter the real estate market here in Atlanta had rebounded to almost where we were in 2019. That rebound took only 10 weeks, in comparison to the 10 years it took to rebound after the 2008 market crash.
What a wild ride!