Gwinnett homes sales not improving fast enough
Although last year Gwinnett homes sales were improving largely due to the Federal tax breaks. Sales of Gwinnett new homes fell 2.1% in May, after rising for two months in a row, as the Atlanta housing market continues to struggle and likely will go through another difficult time.
The Census Bureau reported an annual sales rate of 319,000 new homes last month. That was down from a revised rate of 326,000 in April. But compared to a year ago, sales are up 13.5% on a National level. The fat glut of Gwinnett foreclosures for sale on the market has also sliced demand for new homes, as financially strapped consumers look for better bargains. The average price of Gwinnett new homes sold in May dropped. There were an estimated slight bump in Gwinnett new homes for sale. At the current sales rate, it would take 6.2 months to sell through that inventory, the report said.
New home sales in the Northeast declined the most last month, dropping 27%. The only region to see sales rise was the South, which reported a 2.4% increase.