The housing market in DeKalb County has seen a slight improvement in the past year.
According to foreclosure listing firm RealtyTrac Inc., foreclosures in DeKalb County were down 62 percent this July compared to July 2012. Lenders repossessed 113 homes in DeKalb last month, down 26 percent from last July, and the number of homes that were auctioned off last month is down 35 percent from last July.
The total number of foreclosure notices published in the July 11 issue of The Champion Newspaper, the legal organ for DeKalb County, was 886, down 60 percent from the number of foreclosures published in the July 12, 2012 issue.
“The U.S. housing market has clearly shifted to recovery mode over the past 18 months, with home prices consistently rising and foreclosures falling closer to pre-housing bubble levels,” RealtyTrac vice president Daren Blomquist said.
The number of investors buying homes before they go to auction may have contributed to the reduction, according to Blomquist.
Realtors believe the drop in foreclosures is in line with a housing market that continues to improve.
According to the Georgia REALTORS monthly housing indicators report released in July, the housing market has improved across the state. The report is derived from data from Georgia Multiple Listing Services (MLS), MLS in Atlanta and First Multiple Listing Service from Columbus, Savannah, Macon and Augusta.
Median sales price is up 35 percent, average sales price is up 24 percent, “percent of original price received” is up 4 percent, pending sales are up 5 percent, “days on market until sale” is down 16 percent, new listings are down 4 percent and affordability index is down 25 percent, according to the Georgia REALTORS report.
Georgia REALTORS representatives said that although 100 percent of all activity in the state is not accounted for, the housing indicators give an “accurate” representative sample of the housing market activity and trends throughout the state.
“Intown Atlanta real estate has really exploded over the past six months,” former Georgia REALTORS vice president Sheila Brower said. “Homes are going under contract the day that they are listed and sometimes even before they are listed. Also, it is not uncommon to receive multiple offers on a property.”
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