Atlanta Real Estate Market Positioned for Quick Rebound

We’ve all heard reports that the real estate industry as a whole is suffering, but it’s so important to understand that real estate markets are not national, they are all local. And, we can safely say that Atlanta is in a much better position than most of the county. The Atlanta Journal Constitution reports that, while existing home prices continue to fall across the United States, the rate of decline in Atlanta is significantly slower than the national average.

The report comes from the S&P Case-Shiller index that was recently released. Although the report showed the average price of metro Atlanta homes as dropping between the months of March and April, the numbers were not adjusted to account for seasonal changes that can affect the strength of the market.

Atlanta’s housing market has always been in a better position than those of Phoenix and southern Florida, as well as other national markets, because of the large amount of building in metro Atlanta. The surge of building helped to keep housing prices down which kept Atlanta from becoming a ‘bubble market’.

The AJC reports that some areas in Atlanta have seen some price drops, however some have actually seen some modest increase. Overall though, the Atlanta housing market peaked in 2007 and has been slowly declining since then. Yet economist have hope that metro prices can rise again, the market just has to sell the current pool of unsold homes first.

Since the housing prices have not drastically decreased in the metro area, it means we do not have nearly has much to climb as the market turns. The Atlanta real estate industry is in a great position to rebound quickly from the current state of the economy.