Atlanta real estate market is all set to witness a healthy pace of 5% to 7% growth in sales and median home prices. The values of smaller homes will raise more as compared to bigger homes. I have witnessed growth in Atlanta real estate market much faster than other market after housing and economic depression. Here is good news for Atlanta GA real estate agents. Since last few years, the prices in metro area of Atlanta have almost doubled and I expect the prices to increase more than other areas in Atlanta in coming months.
Increased Rents and More Buyers
Mortgage interest has not increased in the recent months but the interest is expected to increase before December 2016. Increased interests will eventually lead to increased rents. Keeping this fact in mind, we can expect that more buyers will be pushed into Atlanta real estate market.
Is Atlanta Among the Top Markets to Watch in 2016?
Urban Land Institute is a non-profit research organization. The institute has recently revealed a forecast report, which claims that Atlanta would be among top 5 markets to watch in 2016, which is a little surprising as Atlanta was not even among top 10 markets to watch in 2014 or 2015.
Believing in my experience, I think the Atlanta real estate market will show growth trends earlier in the year but will also show cooling weeks.
Will the Market Show Its Cool?
We can expect 5% to 7% rise in the residential and commercial real estate Atlanta but the market will not remain stable throughout the year. In addition, the market will not grow as compared to the growth in 2015. For example, the median home sale price given by Zillow in 2015 is 11% whereas the growth expected in 2016 is 5% to 7%.
On the other hand, the sale of single-family homes, small houses and condominiums has increased in recent months. Therefore, we can expect that properties within these categories will be sold more than other properties in real estate in Atlanta Georgia.
Is Atlanta Ready to Witness Change?
The Atlanta Journal Constitution published a report in September, which stated that it is always harder to identify change. The report stated that the experts believe that the slowdown in Atlanta real estate market is seasonal and the market will improve in the initial weeks of 2016.
I personally believe that Atlanta is ready to embrace the change. The market needs to craft itself according to the needs of Atlanta residents. Briefly, the market may not deliver double-digit increments but there would be pleasant and healthy growth in 2016.
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