Parallel with the weather, Atlanta real estate continues to grow hotter. For the fourth consecutive month, the Cal-Culator, Atlanta’s real estate index, edged 0.1 to a 6.7.
Arguably the most promising news to emerge from last month’s housing data was the dramatic increase in mortgages. Mortgage originations increased nearly 75 percent, despite tight lending conditions.
Existing home sales inched up 5.1 percent to 5.35 million, the highest figure since 2009. Home prices, proving that the recent double-digit growth was unsustainable, increased 4 percent. The next Cal-Culator will be released August 11 – will Atlanta real estate still be sizzling by then?
– Cal Haupt, Southeast Mortgage