ATL Top Market to Watch

Proving yet again that Atlanta is the place to be, the National Association of REALTORS® (NAR) names metro Atlanta the 2023 top market to watch! With young creatives, international investors, business entrepreneurs and more gravitating to our eccentric city, the fast-growing Atlanta market is anticipated to outperform other metro regions within the United States.

Representing over 1.5 million members, NAR is the nation’s largest trade association. Its members include NAR’s societies, institutes and councils handling all aspects of commercial and residential real estate industries.

According to the On the Horizon: Markets to Watch in 2023 and Beyond report by NAR, the top 10 metro markets to watch are as follows:

  1. Atlanta – Sandy Springs – Marietta, Georgia
  2. Raleigh, North Carolina
  3. Dallas – Fort Wayne – Arlington, Texas
  4. Fayetteville – Springdale – Rogers, Arkansas – Missouri
  5. Greenville – Anderson – Mauldin, North Carolina
  6. Charleston – North Charleston, North Carolina
  7. Huntsville, Alabama
  8. Jacksonville, Florida
  9. San Antonio – New Braunfels, Texas
  10. Knoxville, Tennessee

NAR considered a multitude of factors in deciding which metro markets are influential enough to make the top 10 to watch in the new year. These deciding factors include:

  • Great housing affordability
  • Renters who can afford to buy the median-priced home
  • Strong job growth
  • Fast-growing information industry jobs
  • A high share of the information industry in the local GDP
  • Migration gains
  • The portion of workers teleworking
  • A fast-growing population
  • The rapid growth of active inventory
  • Minimal housing shortages

Not only has this beautiful city been named the number one market to watch in the new year, but Atlanta also recently ranked in the top 5 most livable cities across North America!

At the fourth annual NAR year-end Real Estate Forecast Summit, NAR chief economist and senior vice president of research Lawrence Yun predicted that prices will continue to stabilize, 4.78 million existing homes will be sold, home sale prices will reduce by 6.8% and the median home price will reach to $385,800 in the new year.

Yun’s forecast also states that rent prices are anticipated to rise at least 5% and the United States GDP will increase by roughly 1.3%.

Read the full overview at www.NAR.Realtor.

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