Atlanta home sales jump by 88.6 percent in March (Buckhead: real estate market, 2015)

[Airforceguy]

Home sales in Atlanta jumped in March after a slow first two months of the year.
According to Beacham & Co. citing local Multiple Listing Service data, the number of homes sold in March was up 12.9 percent from March 2014 with some closings still left to be counted. That marked the best performance in percentage terms for Atlanta home sales in recent memory and the best March in number of sales since March 2011.
The average home sales price rose by a 6.2 percent to a new all-time March high of $279,216 compared to $262,849 last March. It was also the first time in recent memory that the percentage increase in home sales was greater than the percentage increase in the average home sales price.
The Atlanta-based real estate firm says housing inventory is still stubbornly low in areas of high demand such as Buckhead, Morningside, East Cobb and North Fulton.

Atlanta home sales jump by 88.6 percent in March - Atlanta Business Chronicle

[toll_booth]

Very nice.

I think that real estate speculators may have helped drive this. The Atlanta real estate market got hit HARD several years ago, so what did these speculators do? Buy up a lot of the property while prices were rock-bottom. So naturally, as cheap inventory started to disappear, the prices rebounded. Now far fewer homeowners are underwater, and some of those speculators are in VERY nice financial shape! Sucks for people who are late to the party and looking for homes, however...