LilburnDwellings.com: Gwinnett Housing Report… It’s Rough
Submitted by TalkGwinnett.com on Friday, 13 February 2009One Comment
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Gwinnett Realtor Lane Bailey has published his market report for December and January. For now, there’s no good news:
The market is rough right now. There is NO way to sidestep it, nor to put lipstick on that pig. Going against the numbers from a year ago, just about everything is down… and we thought it was a bloodbath then. The only bright spot is that New Listings are also down… and inventory is substantially lower than the previous year. Also, Pendings are only off by pennies… which forebodes well for sales. But, sales ARE still down. Prices are taking a beating. Days on Market isn’t showing any kind of clear direction.
Gwinnett County Market Report for February | Lilburn
It is rough, but there is news that is sort of good. The bad news is decelerating. Sales had been off 30-40%, now sales are only off 10-15%. Inventories are down 20-25%. Prices are also down, and it is possible that buyers will start seeing prices as bargains… The bottom line is that we really won’t know how the spring looks until at least early summer.
Take a look at the report, and I’d love your comments there.