Despite the housing slowdown, Atlanta remains a top 10 new home market nationally coming in at number nine on Builder Magazine’s Top Local Leaders list for 2010. This is up from number 12 in 2009, but down from the number four market in 2008.
In 2005, Atlanta was the top new homes housing market in the country with the top 10 builders only controlling 16.5% of the market. This number has doubled in the past several years, with today’s top 10 Atlanta home builders controlling 36.5% of the market. This represents big Atlanta builder news as it means that the big builders are controlling more of the market and the medium to small sized builders are putting less inventory on the ground. Much of this is a result of liquidity. The larger builders can still get loans to build homes from the banks, or they have investment partners funding part of the operation. Many of Atlanta’s smaller builders are still struggling with the ability to get loans to build.
Discounted pricing is driving the market and this is making homes more affordable than ever. A plethora of foreclosures have caused builders to offer homes at low, low prices in order to stay in the consideration process and compete.
Here’s what top Atlanta new homes builders are doing to survive:
- adjusting pricing
- retooling or creating new smaller floor plans
- buying land in the best locations
- marketing their homes and locations
For home buyers looking for a great deal on a new home in Atlanta, the right time is now. Prices are interest payments are at all time lows, get out and look for a new home today!
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