To continue the month-long celebrations of six years of Atlanta Real Estate Forum Radio, co-hosts Carol Morgan and Todd Schnick are joined by John Hunt, owner and principal of ViaSearch and MarketNsight, on today’s All About Real Estate segment to discuss the housing market at the end of 2017 and what builders can look forward to in 2018.
John Hunt has been tracking new and resale data since 1991. Operating ViaSearch and MarketNsight in 13 Southeastern cities, he tracks new home and resale home sales, closing activities and inventory levels to let his customers, who are usually builders and developers, know what is going on in the Southeastern home building economy and what is selling.
John says that he helps them make sense of what happens in the Southeast by comparing Southeastern cities to the top 10 housing markets in the country. Across the entire nation, he says, each market’s trends are going in the same direction. Since the loss of inexpensive lot supply in 2013, resale grew in popularity when it became too expensive to build new homes. Now, John says both price levels are moderating and competing with one another again. For the different cities, it will become a question of whether or not the inexpensive lots become available with the right product at the right price point.
The biggest challenge for the 2018 housing markets, he says, will be recovering from the loss of cheap lots. Many builders are still choosing to build the same size homes on large, expensive lots, but this business model completely misses the millennial demographic, who are willing to sacrifice square footage for a lower price point.
John discusses the new housing world, its needs and more on today’s podcast. For more information and insight into the housing economy all over the Southeast, contact John at www.MarketNsight.com or email info@MarketNsight.com for an invitation to MarketWatch Atlanta, a presentation hosted by MarketNsight that updates builders on past, present and future housing market trends. The next MarketWatch is December 4 at SunTrust Park.
A special thank you to Jackson EMC for sponsoring Atlanta Real Estate Forum Radio. Jackson EMC offers homebuyers peace of mind and lower bills with its certified Right Choice™ new home program. These homes are built to be energy efficient and sustainable with improved indoor air quality, convenience and comfort. For more information on Right Choice™ new homes and Jackson EMC, visit Right Choice™ new home.
The Atlanta Real Estate Forum Radio “All About Real Estate” segment, presented by Denim Marketing, airs on Fridays and highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact Denim Marketing at 770-383-3360 or fill out the Atlanta Real Estate Forum contact form. Subscribe to the Atlanta Real Estate Forum Radio podcast on iTunes, and if you like this week’s show, be sure to rate it.