The global real estate sector is in the process of reinventing itself to accommodate the changing needs of consumers, technology advancements, and evolving purchasing behaviors of real estate investors. As a result, for the past couple of years, rapid changes have taken place in the Atlanta real estate market.
From increasing housing demand in sub-urban areas to new real estate developments, the Atlanta real estate market is in a phase of constant evolution. So, for any individual who aims to buy a home in Atlanta in the near future or invest in a commercial property, it is important to keep an eye on the latest real estate trends.
For your convenience, I have written this article that compiles a list of trends that are likely to impact the local real estate industry in the next few months.
1. Political and Policy Changes Will Encourage Homeownership
The Trump administration has announced a number of infrastructure projects and policy changes that are likely to positively impact the housing market. From lower tax rates to more lenient mortgage requirements, there are a number of factors that will make it easier for aspiring homeowners to buy a home in Atlanta.
2. Limited Supply of New Homes Will Create a Fiercer Market for Homebuyers
Right now, the Atlanta real estate market is facing a supply-demand gap. An increasing number of individuals, including Millennials are stepping into the housing market. This has resulted in intense competition between homebuyers, as well as property price appreciation.
However, with a number of ongoing real estate development projects, we can expect Atlanta to offer a more expansive housing inventory to homebuyers in the next couple of years.
3. Metro Atlanta will emerge as a Housing Hotspot
Although all neighborhoods of Atlanta have experienced significant growth over the past few years, Metro Atlanta has shown impressive growth in terms of increase in median listing and selling price. The prices of attached and detached homes have increased significantly since 2016 and the trend is expected to continue over the next few months as well. Offering a vast range of entertainment opportunities to its residents, Metro Atlanta has attracted buyers from surrounding neighborhoods as well.
Put simply, outlook remains largely positive for the Atlanta real estate market. Therefore, if you are considering buying your first home or are ready to invest in a larger home and upgrade your lifestyle, now is the ideal time to make the big real estate investment.
If you are interested in learning more about the Atlanta real estate market, you may contact me on my website. To get more tips about home buying and selling, please visit my blogs on Luther Ragsdale.com and Platinum Real Estate.