Gainesville / Hall County Real Estate Tops Neighbors, State, and Nation in 2010.

Gainesville / Hall County Real Estate Tops Neighbors, State, and Nation in 2010.

A few years ago when one part of the real estate market started to fall, the talk of the nation was whether the subprime mortgage disaster will affect other parts of the real estate business.  Well, it affected all parts of the real estate business.  Then, when the real estate industry as a whole started its fall, the talk of the nation was whether other parts of our enormous economy will be affected.  It ultimately affected everything.  Our country and the world found out how much real estate is intertwined into just about everything!

I went to the Georgia Mountains Center once when I was a kid with my parents.  We went to the arena to watch a unbelievable display of dominoes.  One fell over, then a line of them, and then lines started splintering off in all directions.  Over the last 3 to 4 years our economy looked the same way in slow motion. 

In 2010, things in HALL COUNTY were great compared to our neighbors and are predicted to get even better!  The National Association of Realtors is predicting that the number of home sales in the U.S. will increase by 7.1% in 2011.  This is terrific news for our local economy.  In 2010, Hall County outperformed the U.S., Georgia, and all of our neighbors (See Chart).  We are very excited about 2011!  

   

This Chart Shows the Percentage Increase or Decrease in Single Family
Home Sales (Units) from 2009 to 2010.  Data Sources: National (NAR);
State (GAMLS); Cities and Counties (FMLS).

Buyers will start buying again because of these favorable signs:

(1)  Mortgage interest rates have bottomed and are starting to inch upward;

(2)  The federal spending spree should stop now that the elections are complete;

(3)  It looks like unemployment rates are stabilizing which should create more confidence;

(4)  Many, many houses have been selling for less than it would cost to build them, and that just cannot continue indefinitely;

(5)  Consumer confidence is finally better than it has been.

If you are planning to buy or sell real estate call The Abernathy Cochran Real Estate Group to assist you.