Atlanta’s Home Prices Increase :: Atlanta Real Estate Forum

Atlanta’s Home Prices Increase

What is happening with the Atlanta real estate market is not the same as the national downturn, and, thus, could have a negative impact on buyers instead of builders. National news reports a slump in real estate and a housing downturn, and that many developers and builders are adjusting their production to try to avoid serious problems. Well, Atlanta has always had low price points and is a national business hub, resulting in many relocations, and the combination of these two factors has kept Atlanta’s market more on the stable side of the national slump. However, local builders and developers are still defensive about trying to prevent a serious disturbance, and, also, the banking industry views the real estate industry as a high risk enterprise, which makes getting approved for loans a difficult feat. So, what is my point…

Well, with fewer loan approvals and defensive tactics from developers, the quantity of inventory homes is going to decrease. Once inventory supply is reduced, demand will increase, as the number of people relocating to Atlanta will not change, and thus, as basic economics tells us, prices will increase. More evidence to support my case is that with the real estate and economic downturn in 2007, many markets had home prices drastically fall, but Atlanta’s average home price actually increased. Atlanta’s real estate market is not concurrent with the national trend, and potential home buyers need to understand this. If you want to buy, stop procrastinating and find your home soon while you can still benefit from the buyer’s market and get a great deal.

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