Welcome to Real Estate Backstory, your weekly update on real estate news, changes, and trends affecting the Atlanta area and surrounding markets. This week, we have some exciting developments to share.Firstly, the Federal Reserve has hiked rates by a quarter percentage point, signaling a positive direction in interest rates. We'll discuss the Fed funds rate and 10-year treasury yield to help you understand how these changes affect you.In other news, the typical down payment for homes has fallen 10%, making it easier for first-time buyers to enter the market. We'll also explore whether condos or houses are currently more affordable.February 2023 was a good month for real estate sales, as existing home sales broke a 12-month decline and new home sales posted their third monthly gain. These figures are encouraging and suggest that the market is on the rise.Market rents have also begun to fall, and we'll take a closer look at apartment rent growth to help you understand what's happening in the rental market.As always, we're committed to keeping you informed about the latest developments in real estate. Stay tuned for more updates next week.
