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Well-Positioned in the Real Estate Market -Coweta County, GA
Everyone knows that the pace of home sales has slowed dramatically since 2006 in Coweta, Fayette, and Henry counties. What most people don’t realize is that Coweta seems to have corrected more quickly and with much less deterioration than Henry and Fayette.
Coweta is the only one of the three counties to have its annual home sales pace above the number of existing homes, with annual construction starts below annual and the current inventory level. This has double the effect of not only soaking up existing inventory much more quickly than the other two counties, but also means that prices are likely to recover more quickly, or at least not see tremendous downturns on the available inventory.
This is a classic "Demand exceeds both current and future supply" scenario. Remember that old Economics 101 Lesson: When Demand exceeds Supply, prices tend to go up. The last two quarters give a strong indication that the market in Coweta has bottomed over the last six months, and we are poised for at least a good, stable market, and at best - dare we say - an improving market!