A few days ago I got an interesting email summary from Dac Carver, Beacham’s Managing Broker, of MarketWatch Atlanta, an exclusive meeting he attended about the Atlanta new homes market. There were a lot of great data points, but a few predictions stuck out for me that I wanted to share with you:
- More intown home options at reasonable prices! There are some exciting building plans happening in Midtown that will make intown ownership more accessible to more Atlanta families, like Millennials—one of the largest groups of home buyers—that want to own and live in urban Atlanta, but are being priced out currently. I can’t reveal all the details yet, but just suffice it to say prices are planned to start at $180k. When there’s more info, you will be the first to know—so make sure to subscribe to the blog so you get notified! 😉
- Prices will moderate, at peak now. Growth in Atlanta average home sales price is predicted to settle at about two-five percent this year, lower than the five-10 percent price growth we’ve seen over the last three-four years. What that means is that prices are peaking now and will moderate throughout the remainder of the year. So, if you’ve been thinking about selling, now is THE time to list your home. If you’re wondering what prices have been doing in your neighborhood, check out The Hatch Neighborhood Report.
- Mortgage rates to drift higher throughout the year. The experts at the seminar said that mortgage rates are likely drifting higher throughout the remainder of the year and coming off the historically low levels where they sit currently. So, if you are planning to make a move this year, the sooner the better to take advantage of the most favorable mortgage rates.
Overall, the key takeaway is that our current housing and mortgage rate environment is very favorable for home buyers, especially here in Atlanta. If you follow me on social media you’ve seen my posts recently about new industries, expanding companies, and more jobs coming to the area, especially the Westside and the tech hub in Buckhead. It’s an exciting time here in our city and certainly a great time to become a homeowner or upgrade your home. If you would like to discuss your options, please give me a call. I’d be happy to help you however I can.