350000 300000 250000 200000 $231,000 $221,760 $228,413 $235,265 $242,323 Metro Atlanta Cleve s 10-Year Market Projections SF Detached $252,016 $262,097 $275,909 $290,450 $305,756 $321,870 Total Single Family Detached Closings Average Sales Price 150000 Actual Closings 100000 50000 48,908 51,926 55,129 58,531 62,142 65,976 70,047 74,369 78,958 83,829 89,002 Actual Average Sales Price 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: First Multiple Listing Service
FMLS Market Charts
80,000 Single Family Detached - Closings Metro Atlanta 2016 vs. 2015 70,000 10.2% 60,000 50,000 40,000 47,826 51,743 57,726 65,803 68,256 57,218 45,992 44,752 41,740 49,092 54,174 53,965 54,857 62,552 68,984 30,000 20,000 10,000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
$300,000 Single Family Detached - Average Sale Price Metro Atlanta $265,723 2016 vs. 2015 3.9% $250,000 $200,000 $150,000 $225,022 $231,846$240,312 $255,168 $260,723 $230,617 $197,562 $200,252 $176,326 $183,829 $230,762 $251,509 $277,922 $267,098 $100,000 $50,000 Up 57.6% since 2011 Up 4.6% since 2007 $0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
16,000 Single Family Attached Closings Metro Atlanta 2016 vs. 2015 12.0% 14,000 14,728 12,000 10,000 8,000 6,000 4,000 5,514 6,185 8,181 10,562 12,052 10,771 7,794 7,722 7,648 8,758 11,398 9,843 10,462 13,129 2,000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
$250,000 Single Family Attached - Average Sales Price Metro Atlanta 2016 vs. 2015 6.0% $200,000 $150,000 $180,365 $187,073$186,042 $192,495 $195,446 $186,324 $177,318 $175,157 $195,334 $224,391 $211,685 $100,000 $150,811 $143,386 $139,328 $125,126 $50,000 Up 79.33% since 2011 Up 14.88% since 2007 $0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2006 to 2015 Total SFD and SFA Closings Metro Atlanta 82,314 83,712 75,651 69,936 66,255 64,008 64,427 57,850 55,794 54,483 51,128 68,984 68,256 57,218 54,857 62,522 54,174 45,992 49,092 53,965 44,752 41,470 14,725 12,052 10,711 7,794 7,722 7,648 8,758 9,834 11,398 13,129 10,462 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2016 vs. 2015 10.6% Total Single Family Single Family Detached Single Family Attached
180 Single Family Detached Total Days on Market Metro Atlanta 160 140 150 155 137 120 131 100 80 60 40 98 104 102 89 102 120 110 70 88 69 55 20 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
80,000 Single Family Detached - Total Expired Listings Metro Atlanta 70,000 60,000 63,922 71,676 50,000 51,695 40,000 40,845 42,939 39,050 45,847 43,966 30,000 34,829 35,169 20,000 10,000 20,529 15,114 18,806 18,371 17,016 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
35,000 Single Family Detached - Total Withdrawn Listings Metro Atlanta 30,000 25,000 29,186 27,713 20,000 15,000 10,000 5,000 18,959 15,192 14,377 13,022 10,643 19,094 16,254 14,420 11,563 12,503 13,191 10,223 9,525 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
Average Days on Market and Percentage of Homes that Sell by Price Band 143 44 52 68 86 76% 64% 48% 38% 31% <$250,000 $250,000-$500,000 $500,000-$750,000 $750,000-$1,000,000 >$1,000,000 Percentage of listings that sell Avg Total Days on Market
80,000 70,000 Total Listing Inventory as of 12/31 Metro Atlanta All Property Types 75,622 60,000 68,431 50,000 59,425 54,121 54,070 40,000 30,000 20,000 34,190 39,326 41,311 44,544 36,659 23,564 27,043 30,605 30,204 31,518 10,000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
Months of Supply 25 20 15 10 5 Months of Supply Metro Atlanta Seller s Market Less than 4 months inventory Balanced Market 4 to 5 months inventory Buyer s Market More than 5 months inventory New - Residential Detached New - Residential Attached Resale - Residential Detached Resale - Residential Attached 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Balanced Market Source: First Multiple Listing Service
Sales Price to List Price Ratios Single Family Detached in Metro Atlanta 100.0% 98.0% 96.0% 94.0% 92.0% 90.0% 88.0% 86.0% 84.0% 82.0% 80.0% 97.6% 96.7% 97.0% 95.6% 94.7% 88.4% 93.6% 93.9% 94.0% 86.6% 86.8% 88.5% 95.1% 90.2% 98.4% 96.8% 96.9% 97.1% 96.5% 95.6% 95.6% 94.9% OLP/SP LP/SP Source: First Multiple Listing Service
Price Change Effect on Sales Price to Original List Price Ratio Metro Atlanta - Detached and Attached SF Homes 2016 100.0% 98.0% 96.0% 97.9% Sales Price as % of Original List Price 94.0% 92.0% 90.0% 88.0% 86.0% 84.0% 82.0% 85.3% 80.0% 78.0% 36.01 Days on Market No Price Change 108.70 Days on Market With Price Change
100.0% New Construction and Re-Sale Closings in Metro Atlanta 90.0% 80.0% 70.0% 60.0% 79.3% 82.7% 85.8% 90.0% 93.0% 92.9% 91.1% 90.8% 89.8% 87.6% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 20.7% 17.3% 14.2% 10.0% 7.0% 7.1% 8.9% 9.2% 10.2% 12.4% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 % New % Re-Sale Source: First Multiple Listing Service
Average Sales Prices of New and Re-Sale Homes Metro Atlanta $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $340,782 $244,744 $330,504 $207,495 $298,396 $297,603 $179,866 $187,610 $275,583 $166,367 $283,724 $176,206 $318,037 $220,529 $341,598 $241,914 $353,852 $256,607 $360,119 $264,619 Avg. Sales Price New Avg. Sales Price Re-Sale $100,000 $50,000 Resale Price as % of New Price $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 71.8% 62.8% 60.3% 63.0% 60.4% 62.1% 69.3% 70.8% 72.5% 73.5% Source: First Multiple Listing Service
Price Ranges of Single Family Detached Closings in Metro Atlanta 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 878 635 450 467 451 517 599 754 891 986 1023 787 570 560 540 582 776 993 1123 1319 3526 2352 1800 1838 1792 1970 2769 3251 3928 4487 16388 31569 4684 11165 22185 9745 8886 8573 18452 17547 13437 13064 8267 9952 17798 19940 20284 21251 13013 24015 12824 15506 18731 25756 8891 30347 22453 33112 7764 6584 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $1,000,000+ $750,000-$999,999 $500,000-$749,999 $250,000-$499,999 $100,000-$249,999 <$99,999 Source: First Multiple Listing Service
50.00% 45.00% Cash Purchases as Percentage of Total Closings Single Family Detached - Priced Under $200,000 - Metro Atlanta 45.09% 44.21% 40.00% 39.91% 35.00% 36.42% 30.00% 25.00% 20.00% 19.15% 26.41% 31.24% 28.00% 22.80% Cash % 15.00% 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: First Multiple Listing Service
300.00 S&P/Case-Shiller Home Price Index August of Each Year AZ-Phoenix 250.00 CA-Los Angeles DC-Washington FL-Miami 200.00 GA-Atlanta IL-Chicago 150.00 100.00 50.00 122.2 129.0 134.9 136.5 124.7 110.2 114.3117.79 110.1 104.8 110.0 88.9 95.7 132.8 126.2 119.4 113.4 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 NC-Charlotte NV-Las Vegas NY-New York TX-Dallas Atlanta up 49.4% since 2011 Source: S&P/Case-Shiller Home Price Index
Metro Atlanta County Charts
Gwinnett County Source: First Multiple Listing Service 14,000 12,250 12,000 10,000 8,000 10,328 7,682 7,922 7,397 9,586 10,599 9,083 9,480 11,027 +11.09% Total SFD Closings 6,000 Total SFD Distressed Closings 4,000 2,000 0 3,464 4,002 1,302 1,961 2,697 571 2,272 1,898 326 1,074 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2.66% of total Gwinnett County $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $241,070 $222,523 $181,840 $175,846 $162,363 $167,827 $157,777$157,421 $142,857 $149,831 $244,750 $228,269 $210,383 $191,910 $137,288$142,827 $108,892 $112,857 $176,543 $183,049 +7.22% Avg. Total SP Avg. Distressed SP $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
North Fulton County Source: First Multiple Listing Service 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 4493 4337 4150 4039 3727 3526 2970 2772 2635 2735 155 268 358 439 491 501 239 90 57 41 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016-3.47% Total SFD Closings Total SFD Distressed Closings.95% of total North Fulton County $600,000 $500,000 $400,000 $300,000 $200,000 $456,854 $455,335 $482,556 $513,419 $410,690 $402,114 $447,929 $426,788 $389,994$386,012 $383,752 $405,978$413,358 $375,060 $370,340 $353,993 $320,845 $323,695 $299,325 $305,998 +6.4% Avg. Total SP Avg. Distressed SP $100,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 South Fulton County 4,536 4,061 3,621 3,331 3,089 3,043 3,174 2,949 2,845 3,144 2015 1873 1281 1284 1300 1009 823 505 371 272 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 +15.17% Total SFD Closings Total SFD Distressed Closings 7.51 % of total Source: First Multiple Listing Service South Fulton County $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 $167,136 $160,820 $150,325 $134,238 $114,672 $103,409 $88,055 $90,854 $92,571 $82,401 $104,444 $96,860 $97,838 $90,850 $85,105 $71,116 $73,737 $71,821 $73,367 $66,609 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 +11.18% Avg. Total SP Avg. Distressed SP
Source: First Multiple Listing Service City of Atlanta 3,500 3,000 2,500 2,807 2,757 2,451 2,065 2,160 2,383 2,647 2,715 2,861 2,768-3.25% 2,000 Total SFD Closings 1,500 Total SFD Distressed Closings 1,000 500 462 737 640 446 462 347 183 100 66 55 1.99 % of total 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 City of Atlanta $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $493,966 $405,309 $436,008$437,094 $379,459 $340,748 $180,614 $201,625$234,815 $130,691 $83,972 $109,480 $546,741 $577,266$611,799 $499,724 $270,059 $171,747$177,049 $190,917 +5.98% Avg. Total SP Avg. Distressed SP $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: First Multiple Listing Service Cobb County 12,000 10,000 8,237 8,088 8,625 8,548 9,467 9,857 +4.12% 8,000 7,074 6,218 6,042 6,015 6,000 Total SFD Closings Total SFD Distressed Closings 4,000 2,000 702 1166 1467 1651 2171 2070 1206 586 369 203 2.06% of total 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $350,000 $300,000 $250,000 Cobb County $279,716 $266,196 $277,203$292,198 $255,680 $244,681 $225,609 $221,052 $192,030 $201,929 +5.41% $200,000 $150,000 $100,000 $163,889$161,281$157,841$155,673 $149,099 $156,858 $171,199 $126,269$126,016 $131,088 Avg. Total SP Avg. Distressed SP $50,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Dekalb County Source: First Multiple Listing Service 9,000 8,000 7,341 7,887 +7.44% 7,000 6,000 6,533 6,028 5,745 5,177 5,748 6,588 6,575 6,556 5,000 Total SFD Closings 4,000 Total SFD Distressed Closings 3,000 2,000 1,191 1,741 1,776 1,449 1,708 1,795 1,019 4.11% of total 1,000 543 497 324 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Dekalb County $350,000 $300,000 $250,000 $265,498 $223,738 $301,107 $283,567 $263,921 $244,559 +6.19% $200,000 $150,000 $100,000 $50,000 $131,504 $179,288 $183,848 $167,111 $177,476 $106,131 $88,295 $95,410 $102,535$105,463$103,438$100,528 $86,068 $82,895 Avg. Total SP Avg. Distressed SP $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Forsyth County Source: First Multiple Listing Service 5,000 4,500 4,000 3,500 3,000 2,500 2,000 3,283 2,386 2,098 2,199 2,609 2,939 3,557 3,769 4,186 4,678 +11.75% Total SFD Closings Total SFD Distressed Closings 1,500 1,000 500 0 439 529 642 651 259 356 121 222 81 54 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1.15% of total $400,000 $350,000 $300,000 $250,000 Forsyth County $335,646 $324,568 $320,302 $332,829$345,034 $291,135 $292,673 $276,842 $256,451 $263,533 $200,000 $150,000 $232,633 $279,964 $264,959 +3.67% $231,184 $190,018 $185,018 $211,885 $225,418 $209,898 $241,164 Avg. Total SP Avg. Distressed SP $100,000 $50,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
5,000 4,500 4,000 3,500 3,000 2,500 2,000 3,489 2,344 2,410 2,342 2,813 Cherokee County 3,794 3,609 3,186 4,281 4,759 +11.17% Total SFD Closings Total SFD Distressed Closings Source: First Multiple Listing Service 1,500 1,000 500 0 891 977 665 739 649 403 336 185 143 103 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2.16% of total Cherokee County $300,000 $250,000 $200,000 $150,000 $100,000 $253,453 $232,227 $212,939 $203,365 $180,959$184,197 $266,329 $249,778 $231,250 $211,269 $198,066 $182,532$182,441 $178,867 $167,875 $173,671 $136,053$139,641 $150,575$156,683 +6.63% Avg. Total SP Avg. Distressed SP $50,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: First Multiple Listing Service Hall County 3,000 2,500 2,202 2,392 +8.63% 2,000 1,779 1,635 1,789 1,834 1,851 1,500 1,216 1,216 1,351 Total SFD Closings Total SFD Distressed Closings 1,000 500 131 289 450 511 595 769 397 271 146 76 3.18% of total 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 300,000 250,000 200,000 150,000 100,000 50,000 $254,701 $226,630 $203,069 $181,318 $158,714$157,078 Hall County $192,096 $251,436 $221,224 $235,302 $174,053 $156,681 $149,894 $138,768 $125,328 $137,655 $140,473 $109,630$106,598$106,296 +6.86% Avg. Total SP Avg. Distressed SP 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: First Multiple Listing Service Clayton County 1,600 1,400 1,200 1,033 1,225 1,436 1,156 1,301 1,145 1,019 1,242 +21.88% 1,000 880 869 800 600 400 200 221 462 570 493 585 553 375 198 201 108 Total SFD Closings Total SFD Distressed Closings 8.7% of total 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 140,000 120,000 100,000 80,000 60,000 40,000 Clayton County $123,158 $119,544 $101,679 $83,315 $80,889 $92,228 $59,797 $62,828 $55,992 $46,994 $48,685 $66,792 $64,681 $62,450 $64,201 $55,956 $56,816 $50,542 $42,515 $44,313 +21.12% Avg. Total SP Avg. Distressed SP 20,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fayette County Source: First Multiple Listing Service 350 327 300 250 278 241 234 226 246 242 285 +14.74% 200 150 188 191 Total SFD Closings Total SFD Distressed Closings 100 50 0 60 51 56 38 38 34 24 26 14 14 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 4.28% of total Fayette County $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $308,783 $294,128$277,505 $265,777 $226,325 $236,627$255,151 $282,152 $356,478 $335,379 $230,856 $204,486 $194,453 $182,617 $171,285$168,818$167,273$166,851$159,196 $137,281-5.92% Avg. Total SP Avg. Distressed SP $50,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1,200 Henry County 1,064 Source: First Multiple Listing Service 1,000 800 600 400 200 0 680 711 759 642 573 526 554 574 484 257 217 184 203 146 134 92 90 71 31 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 +40.18% Total SFD Closings Total SFD Distressed Closings 2.91% of total $250,000 Henry County $200,000 $193,611 $172,714 $180,414 $202,749 $205,572 +1.39% $150,000 $100,000 $50,000 $140,540 $142,569 $134,030 $122,936 $155,128 $115,198 $144,584 $130,525 $130,428 $130,454 $111,110 $96,457 $100,809 $106,548 $109,857 Avg. Total SP Avg. Distressed SP $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Rockdale County Source: First Multiple Listing Service 450 400 350 300 364 329 367 330 295 322 284 263 336 395 +17.56% 250 200 150 100 50 0 147 139 122 105 89 94 71 70 41 32 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Total SFD Closings Total SFD Distressed Closings 8.10% of total $250,000 Rockdale County +7.18% $210,530 $200,000 $150,000 $100,000 $50,000 $169,542 $172,777 $152,726 $149,421 $143,675 $136,289 $141,007 $174,119 $156,880 $162,453 $139,831 $121,904 $113,566 $115,355 $94,918 $103,225 $135,012 $127,770 $98,398 Avg. Total SP Avg. Distressed SP $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
The Effect of Distressed Property Sales on Single Family Sales Prices in 2012 in Metro Atlanta Average Sales Price (Non-Distressed) $220,930 Single Family Detached Average Sales Price (Distressed Closings) $110,676 Single Family Detached -16.7% Average Sales Price (All Closings) $183,827 Single Family Detached Average Sales Price (Non-Distressed) $166,180 Single Family Attached Average Sales Price (Distressed Closings) $82,250 Single Family Attached -15.9% Average Sales Price (All Closings) $139,729 Single Family Attached Source: First Multiple Listing Service
The Effect of Distressed Property Sales on Single Family Sales Prices in 2013 in Metro Atlanta Average Sales Price (Non-Distressed) $258,683 Single Family Detached Average Sales Price (Distressed Closings) $120,509 Single Family Detached -10.8% Average Sales Price (All Closings) $230,731 Single Family Detached Average Sales Price (Non-Distressed) $194,596 Single Family Attached Average Sales Price (Distressed Closings) $92,310 Single Family Attached -10.0% Average Sales Price (All Closings) $175,189 Single Family Attached Source: First Multiple Listing Service
The Effect of Distressed Property Sales on Single Family Sales Prices in 2014 in Metro Atlanta Average Sales Price (Non-Distressed) $266,056 Single Family Detached Average Sales Price (Distressed Closings) $142,924 Single Family Detached -5.5% Average Sales Price (All Closings) $251,349 Single Family Detached Average Sales Price (Non-Distressed) $204,098 Single Family Attached Average Sales Price (Distressed Closings) $95,553 Single Family Attached -4.3% Average Sales Price (All Closings) $195,314 Single Family Attached Source: First Multiple Listing Service
The Effect of Distressed Property Sales on Single Family Sales Prices in 2015 in Metro Atlanta Average Sales Price (Non-Distressed) $276,138 Single Family Detached Average Sales Price (Distressed Closings) $125,887 Single Family Detached -3.3% Average Sales Price (All Closings) $266,949 Single Family Detached Average Sales Price (Non-Distressed) $216,560 Single Family Attached Average Sales Price (Distressed Closings) $98,221 Single Family Attached -2.3% Average Sales Price (All Closings) $211,674 Single Family Attached Source: First Multiple Listing Service
The Effect of Distressed Property Sales on Single Family Sales Prices in 2016 in Metro Atlanta Average Sales Price (Non-Distressed) $281,222 Single Family Detached Average Sales Price (Distressed Closings) $133,480 Single Family Detached -1.9% Average Sales Price (All Closings) $275,821 Single Family Detached Average Sales Price (Non-Distressed) $226,777 Single Family Attached Average Sales Price (Distressed Closings) $108,760 Single Family Attached -1.1% Average Sales Price (All Closings) $224,125 Single Family Attached Source: First Multiple Listing Service
Savings on Short Sales and Foreclosures vs. Market Sales Metro Atlanta 2016 Single Family Detached Non Distressed Avg. Sales Price $281,222 Short Sales Avg. Sales Price $166,5122 (41% less) Foreclosures Avg. Sales Price $132,560 (53% less) Single Family Attached Non Distressed Avg. Sales Price $226,777 Short Sales Avg. Sales Price $112,805 (50% less) Foreclosures Avg. Sales Price $114,834 (49% less) Source: First Multiple Listing Service
Mortgage Delinquencies
Source: Mortgage Bankers Association & caculatedriskblog.com
2016 National Foreclosure Rate:.8% 2015 National Foreclosure Rate: 1.2% 2016 Georgia Foreclosure Rate:.5% 2015 Georgia Foreclosure Rate:.67% As a percentage of all homes with a mortgage Source: Mortgage Bankers Association & calculatedriskblog.com, RealtyTrac.com
Price-to-Rent Ratios
Cost to Purchase vs. Rent Analysis Metro Atlanta, GA 2016 Average Monthly Cost to Rent Metro Atlanta Home: $1,729 Average Monthly Cost to Purchase Metro Atlanta Home: Effective Monthly Cost to Purchase with Tax Advantages: $1,474 (17% less) $1,236 (29% less)
Looking Ahead
2017 Atlanta Real Estate Market Projections: Prices will rise 2.5-4%. Sales will rise 3-6%. Buyer urgency increasing at lower price ranges. Downward pressure on commissions. Regulatory uncertainty. Credit standards ease and more creative loan products introduced. Mortgage rates increase. Builders offer more incentives (to buyers and to brokers/agents) and face continued cost pressure. Smart Data plays more important role in real estate. On the Fence sellers decide it s time to move. Sellers in higher prices need to be more tactical when pricing. Buyer s remorse increases in lower price ranges. The next downturn is coming. Will you be ready?
4.80 4.60 4.40 4.20 4.00 3.80 3.60 3.40 3.77 3.98 Mortgage Rates Freddie Mac 30 year Fixed Rate Decrease in borrowing power as rates increase: 4.30% $3,200 4.43% $6,500 4.53% $9,000 3.89 3.96 3.69 3.57 3.46 4.20 4.17 Projected Rates 4.30 4.43 4.53 3.20 3.00 3/1/2015 4/1/2015 5/1/2015 6/1/2015 7/1/2015 8/1/2015 9/1/2015 10/1/2015 11/1/2015 12/1/2015 1/1/2016 2/1/2016 3/1/2016 4/1/2016 5/1/2016 6/1/2016 7/1/2016 8/1/2016 9/1/2016 10/1/2016 11/1/2016 12/1/2016 1/1/2017 2/1/2017 3/1/2017 4/1/2017 5/1/2017 6/1/2017 7/1/2017 8/1/2017 9/1/2017 10/1/2017 11/1/2017 12/1/2017 Source: Average or NAR, MBA and Fannie Mae Projections
$350,000 Median U.S. Home Price $300,000 $313,600 $250,000 $200,000 $196,871 $150,000 $100,000 3.73% $50,000 7.48% $0 Average US Home Sales Price US Average Home Sales Price - Adjusted for Interest Rate Source: US Census
Millennial* Myths: live in parent s basement too much student debt to buy homes prefer to rent Live Urban *1982-2000
Homeownership Rates 2005-2016 69.00 68.00 67.00 66.00 65.00 64.00 63.00 62.00 61.00 60.00 59.00 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q1 2016 Q2 2016 Q3 2016 Q4 Source: Census
The Call Cleve Atlanta Real Estate Show Sundays at Noon & Tuesdays at 2 EXPERT REAL ESTATE ADVISOR on THE MORNING RIDE WITH LARRY LARSON TUESDAYS AT 9:30 AM
Sure Home Selling System Sure Home Buying System
3100 Apples to Apples 100-based Index 2600 2100 Value 1600 1100 600 100 1963 1965 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 Year US Median Home Sales Price Dow Jones Industrial Average S&P 500 Average Source: US Census, DJIA, S&P 500
Mortgage Rates - 10-Year Treasury Yield - Fed Funds Rate 9.0 8.0 7.0 6.0 5.0 Historic: 15-year spread: 1.18% 30-year spread: 1.77% Currently: 15-year spread: 0.94% 30-year spread: 1.70% 4.0 3.0 2.0 1.0 0.0 Jan-00 Apr-00 Jul-00 Oct-00 Jan-01 Apr-01 Jul-01 Oct-01 Jan-02 Apr-02 Jul-02 Oct-02 Jan-03 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 30-year Mortgage Rate 15-year Mortgae Rate 10-year Treasury Yield Federal Funds Rate Source: Freddie Mac & US Federal Reserve
Atlanta Will Continue to Grow By 2040 Year Population Employment 2010 5,473,846 2,699,950 2040 8,256,323 4,472,563 Source: Atlanta Regional Commission
New Housing Units Required in Metro Atlanta based on Population Growth 2017 35,537 2018 35,537 2019 35,537 2020 35,537 4-Year Total 142,685 Source: Atlanta Regional Commission and US Census
Where Will Growth Take Place in Metro Atlanta? For 20 Counties NNW NNE ENE WNW The Core is not depicted by a growth bar, but increases by 77,024 persons and 65,562 jobs between 2000 and 2030 ESE WSW SSW SSE Source: Atlanta Regional Commission
Metro Atlanta Employment Density - 2030 50 percent of 20-county jobs is inside the blue outline 1.32 = median jobs per acre for census tracts Source: Atlanta Regional Commission
Feel free to contact me with any questions. Cleve Gaddis Gaddis Partners, RE/MAX Center Sure Realty, Inc. (a boutique residential property management company) 10475 Medlock Bridge Road, Suite 119 Johns Creek, GA 30097 www. 770-497-0000