2015 Atlanta Real Estate Market Trends
The Atlanta real estate market trends are riding the wake of the popular urban lifestyle taking hold across several America cities. The revitalization of urban centers in well-established cities such as Atlanta has opened up opportunities for professionals, young families, singles, retirees, business people, and vacation home owners.
Opting for the “green” lifestyle with short commutes, numerous buyers now enjoy the easy, low maintenance urban lofts and condos in Atlanta. To eliminate the commute to suburban areas, many homebuyers prefer single family homes in Atlanta’s historic neighborhoods. Then again, beautiful neighborhoods in the Atlanta suburbs remain popular as ever.
Atlanta’s Current Housing Recovery
It’s no joke that the Atlanta market was one of the hardest hit by the economic troubles that bashed the U.S. housing market in 2008. For 4 long years, home prices plummeted here. A large number of homeowners ended up owing more than their homes were worth. Finally, in 2012, Atlanta home prices began a steady rebound. Investors and developers took advantage of the low prices, sparking a regeneration, most especially inside the perimeter.
How Is the Atlanta Real Estate Market Doing in 2015?
Prices for Atlanta homes continue to rise, making up in precious value after the shakeup. According to information at Zillow.com, 2014 home prices in the Atlanta metro area increased 14.5%. But that reflects the necessary adjustment after home values fell so dramatically. Some experts projected an 11% rise in Atlanta real estate prices in 2015. Intervening projection may be elusive considering intervening factors such as a stubborn unemployment rate and projected higher interest rates.
The real-time prices are up about 7% in 2015. Many, including Zillow, expect only 5% year-over-year out of the Atlanta market. By sustaining modest yet healthy appreciations in home values, the Atlanta real estate market will stabilize and allow homeowners more flexibility.
Rosy Outlook for Atlanta Market
At the end of 2014, the National Association of REALTORS® and Realtor.com economist Jonathan Smoke put the Atlanta Georgia real estate market among the “Top 10 Hot Housing Markets to Watch in 2015.” The organization even went so far as to predict 7% growth in total households over the next 5 years. Interest rates, employment rates, and the overall economy could still dampen the optimism. We remain hopeful in our niche market inside the perimeter.
Real Estate Agent Atlanta
For information about luxury real estate in the Atlanta market, please contact Anthony Acosta, Harry Norman REALTORS® at 404.797.9907 Cell or 404.261.2700 Office.