Harry Norman, Realtors® Expects Early Recovery in Georgia

Posted by Alisa Bennett-Hart — March 10, 2008

ATLANTA – (March 11, 2008) – Understanding the best way to navigate the housing market is a key concern for buyers, sellers and, based on the headlines, just about everyone looking at the economy. Several key economists track the housing market to determine when the market is most likely to recover and many are weighing the strength of a local market’s fundamentals when making predictions. By this measure, Georgia as a whole, and Atlanta specifically, is poised for a swifter recovery than many other parts of the country. Harry Norman, Realtors® Housing Trends 2008 showcases the opinions of a number of notable economists and housing experts that attest to the stability of our local fundamentals and the expectation of a more timely recovery of our local housing market compared to other markets.“Many of us in the housing and mortgage industries heard the doomsday prophecies but most of us had a difficult time accurately separating fact from fiction. I am grateful that the worst predictions of total market collapse did not come to pass and that the rosy picture of limitless buying and selling finally hit the wall of necessary moderation,” said Lewis Glenn, president and CEO of Harry Norman, Realtors®.“Since the third quarter of 2007, I have touted this period as the best time to buy. National headlines have focused on the housing market, the troubled mortgage industry and real estate closing firms. Few stories, however, have highlighted the fact that Georgia’s economy is strong and supports a stable real estate market. Georgia is the fourth fastest growing state with an expanding population and steady employment rates. Metropolitan Atlanta is also one of the nation’s most affordable cities according to a recent article in Forbes.com. Increased housing inventory levels make this a buyers’ market with steady sales prices compared to other cities. This is all good news.”About Harry Norman, Realtors®Founded in 1930, Harry Norman, Realtors® is Atlanta’s oldest residential real estate firm with 20 offices and over 1,000 sales associates. Harry Norman Realtors is a wholly-owned subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate.  HomeServices is the second-largest full-service independent residential real estate brokerage firm in the U.S.  Through its affiliation with HomeServices of America, Harry Norman is part of a real estate family of 20,000 sales associates spanning 19 states. Harry Norman, Realtors® also achieves international exposure through membership in such exclusive real estate networks as Leading Real Estate Companies of the WorldTM the largest network of independent residential real estate firms, with 650 members representing 4,700 office and 120,000 associates across the U.S. and in over 20 countries. For additional information, visit www.harrynorman.com.

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