With the continued FED rate and subsequent mortgage rate increases, it’s logical that the real estate market demand has cooled. However, because of the supply constraints over the last three years, the waning demand has not significantly affected prices here in Atlanta. I view this as a positive for our real estate market in the medium term.
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I was excited but not surprised to see that Money Magazine listed Atlanta as the best place to live in the country in 2022.
Money magazine has been putting out this ranking for over 35 years. It’s among the most reputable annual “best city” rankings.
With the ever-changing U.S. city landscape, the magazine wanted to choose a city “where anyone can feel like they belong.” This statement is an excellent city description of Atlanta and its well-deserved ranking.
If you have read my previous posts, you know I have been very bullish on our city. Therefore, by extension, I am bullish on our real estate market. I believe that the ongoing growth of our city will help support a resilient Atlanta real estate market in the future.
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There is a lot of uncertainty in the overall economy, and it’s easy to see that uncertainty trickle down into the real estate market. However, given the widespread supply shortages, I don’t foresee any significant downside changes to the price of homes in the near term. But with rising rates and prices at all-time highs, we could see home prices start to flatten.
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News headlines have been stating that there is a slowing down of the residential real estate market but here in Atlanta that is not the case.
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As the pandemic continues to loom, folks are trying to move forward with positive changes. This can be seen in the current real estate market. People are taking advantage of low-interest rates and advancing home-buying plans.
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Spring is upon us and while these are unprecedented times, there is a silver lining in the real estate market. While stay-at-home orders are definitely affecting demand, this should only be short term.
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Have you spent time in West Midtown lately?
Whether you are new to Atlanta or a seasoned resident, West Midtown deserves your attention.
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Atlanta is one of the fastest-growing markets in the nation and has become one of the best places to live and work in the South. So it’s no wonder the residential real estate market has seen phenomenal growth over the past several years.
Even with its enormous popularity, I believe there is still potential growth opportunity if you know where to look. Below I highlight two established neighborhoods and two up and coming neighborhoods with future growth potential.
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As we start a new decade in 2020, I continue to see a healthy residential real estate market both nationally and locally. With ongoing low interest rates and the latest data analysis over the past three months, I believe we will continue to see a strong momentum going into the new year.
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The holiday season is right around the corner and whether you’re new to Atlanta or a seasoned resident, this guide is for you!
My insiders guide to the holiday’s in Atlanta will help you plan your season with some of the best holiday fun Atlanta has to offer. Continue reading