“Atlanta is one of the Top 5 Markets to Watch in – 2016.”
The Urban Land Institute (ULI), is a nonprofit research organization who recently published its Emerging Trends in Real Estate report. They report that individual real estate markets are ranked based on their performance (and their expected performance) in three primary areas: investment, development, and home building. The general consensus is that Residential and Commercial real estate in Atlanta will thrive throughout 2016.
Aerial Photography by: Joshua Vensel / VENVISIO, LLC
A) Home Building is still far behind our peak of 60,000 permits in a year. In 2014 according to the U.S. Census there were neawrly 27,000 permits pulled. This year’s stats haven’t been released yet but we suspect a healthy increase over 2014. However, there is still a notable lack of New Home construction in ALL price categories.
B) Resale Inventory remains low with less than 5 months of inventory in most price categories. Many homeowners are stuck because they don’t have enough equity to make a move worthwhile;
C) There is a pent up demand by homeowners who HAVE regained enough equity to sell and trade up.
Caveat: The Luxury market is a different story. Luxury homes is defined here as homes with a value of over $1.million. Depending on what geographic area you are in the inventory may fluctuate between 1-2 years. This too is better than a few years ago when inventory was between 2-3 years in the Luxury price points above $1.million.
Here are the Top 10 Markets:
• Dallas/Forth Worth, TX
• Austin, TX
• Charlotte, NC
• Seattle, WA
• Atlanta, GA
• Denver, CO
• Nashville, TN
• San Francisco, CA
• Portland, OR
• Los Angeles, CA
Chief economist Lawrence Yun says the trend represents the release of pentup demand by homeowners who have regained enough equity to sell and trade up. But when you combine that with homeowners who might move but are stuck because they don’t have enough equity, plus a notable lack of newly built homes, you have a short.
Contact Janet Weidmann with the WOW Team to learn about the real estate inSuwanee, Johns Creek, Alpharetta, Roswell and your immediate neighborhood. Reach out to The WOW Team with any questions you may have on Georgia Real Estate.
Link here to find out the real value of your home.
Thank you — Janet Weidmann | Team Leader of the WOW Team