Starkey Mortgage (WR Starkey Mortgage, LLP NMLSR #2146) believes that 2014 will be an even bigger and better year for the Atlanta housing market. With home starts up almost 70 percent in 2013, builders all over metro Atlanta were reporting the highest number of new home sales since before the great recession.
In 2014, Starkey Mortgage expects to see a more normalized housing market. While numbers may not be as extremely high, or as extremely low, as we’ve seen over the past year, this year will still be a phenomenal time to purchase a new Atlanta home.
Many experts predict that home starts will continue to increase until they level out with the current demand for new homes. The National Association of Home Builders (NAHB) is predicting a 32 percent increase in single-family construction nationwide. The current inventory of available homes is still low, as a balanced real estate market should generally have a five to six month supply of homes. As the spring selling season approaches, builders will have to work to keep up with an increasing demand of buyers and continue to build new homes.
Other trends that Starkey expects to see in 2014 include:
- Demand for new homes will continue to grow, especially as many millennials plan to become new homeowners for the first time.
- Interest rates will continue to climb. However, the NAHB expects that rates will not reach 5 percent this year for 30-year fixed rate mortgages.
- Construction spending will continue to increase, which will continue to help stimulate the overall economy.
- Consumer and builder confidence in the market will continue to climb as the market continues to improve.
With all of these positive changes occurring in the Atlanta real estate market, Starkey Mortgage believes that now is the perfect time to purchase a new home. One of Starkey Mortgage’s Regional Managers, Doug Casbon, expressed, “We are very excited to see new homes making a comeback in the metro Atlanta area.” When choosing Starkey Mortgage to provide you with your new home loan, you can expect timely closings and competitive rates, as it’s processing and underwriting is located in-house. Starkey exercises controlled growth and works closely with Atlanta new home buyers and builders to give them an assured experience.
For more information on obtaining a home loan from Starkey Mortgage, please contact regional manager Doug Casbon (NMLSR #544324, Georgia License #33169) at firstname.lastname@example.org, call 678-350-9020 or visit www.StarkeyMortgage.com.
Equal Housing Lender. 7000 Central Pkwy NE, Suite #1440, Atlanta, GA 30328. Branch NMLSR #909552, Branch License #60841. Phone: 678.350.9020.