In so many ways 2016 proved to be a volatile year for the real estate industry. However, amidst an uncertain and highly competitive environment, Atlanta real estate market continues to experience significant growth, with property prices rising all across the city. In addition, the big real spending vowed by Trump administration is likely to contribute to the growth of the local real estate industry, making Atlanta a hotspot for real estate buyers and investors.
So, if you are considering buying a home in Atlanta or investing in a commercial property, this article will provide you a valuable insight into how Atlanta real estate market is likely to behave in the next 6 months.
1. Housing Inventory will Expand
The Atlanta real estate market broke all residential sales records in 2016, and we can expect to witness the same exponential growth throughout this year as well. With a number of on-going real estate development projects, Atlanta housing inventory will expand considerably to offer a range of options to potential home buyers.
It’s exciting to see several condominium projects making rapid progress towards completion. These projects will offer excellent money-making opportunities to real estate agents, as well as homebuyers who want to live the luxurious urban lifestyle.
2. Metro Atlanta Will Experience Impressive Growth
Intown Atlanta experienced more accelerated growth in 2016 as compared to other areas of the city. Prices of attached and detached homes increased by 18.4 and 7.4 percent respectively. The second half of 2017 will bring positive news for the local homeowners, since the prices of attached and detached properties are expected to increase by another 4 percent. This presents an excellent opportunity for individuals who may want to sell their home and move to another neighborhood or state.
3. The Region will Experience New Construction Activity
In comparison to other cities, Atlanta has been underserved in terms of new housing construction. However, a more favorable real estate landscape and more stable financial sector are likely to garner construction financing, attracting real estate developers to invest in Atlanta. This will help bridge the demand-supply gap and offer better real estate opportunities to both homebuyers and sellers.
To summarize, new real estate developments combined with the government’s initiatives to support homeownership are likely to leave a positive impact on the local real estate industry. Increasing property prices, as well as an expanding housing inventory will make Atlanta a hotspot for anyone looking to buy or sell a home.
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.