In Cobb County this month we have seen a drop in Average home prices by roughly $30k, while our number of new listings has increased from only 488 in January to 827 in February.

Some other interesting data is reflected in the number of homes sold. In January the figure was 447, so we have seen only a slight decline in the number of home sold in the county, but Months of inventory has remained steady at approximately one and a half months worth of inventory, and only a slight increase of Days on the market from 36 in January to 42 in February, which is great news if you are considering selling in the near future.

Friends, our market is still incredibly strong! The interest rates for home mortgages have gone down slightly into the mid to high 5% range for folks with good credit. While that is a good bit higher than it was prior to our current economic rate increases, the truth is, that rate is still lower than it was during the last big market downturn, where 7 & 8% mortgages were more the norm.

Interest rates will continue to fluctuate, so having the information from a trusted Mortgage professional will help you determine if these rates and this market areright for you.