May 2020 Market Summary: What’s Goin’ on in Atlanta
Atlanta | COVID-19 | Home Owners | Real Estate | What's going on! |
According to the Atlanta Realtors Market Brief, May ended with sales at 4,085, which was a 36.8% decrease from this time last year. Supply decreased 23.7% from May of 2019. New listings totaled 3,915, down 35.8% from May 2019 and up 5.4% from the month prior.
A Word from 2020 Atlanta REALTORS® President Jennifer Pino: “While prices remain steady, sales for May reflect the impact of the Shelter in Place Order that Metro Atlanta residents were following during March and April. Based on the showing activity during those months, this was an expected decline and will continue to affect the overall sales for the early part of the summer,” said Jennifer Pino, President of the Atlanta REALTORS® Association. “Interest rates are now at historic lows falling below 3% in many cases so combined with the re-opening of many businesses, we have seen the showing activity and pending sales trending upward over the last month. Based on this trend, activity is expected to trend higher overall this summer as compared to last summer. “
Click HERE to read the report in it’s entirety along with monthly sales totals over the past three years, number of active listings and more!
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