Atlanta showed some of the strongest real estate trends in the year 2015, and it does not seem to be slowing down for the year 2016 either. What we saw in 2015 was the rise in home prices within the metro area by double the amount since the last few years. And while this appreciation of home prices seems to have leveled off a little bit; the year 2016 is also likely to bring about continued gains. With my experience and knowledge of the Atlanta Real Estate industry, I can safely say that Atlanta is one of the ‘markets to watch’ for the coming year.
In order to survive and grow in this thriving real estate market, you should stay aware of the latest happenings and expected trends. I encourage my real estate agents at Platinum Real Estate also to keep learning new things and stay updated with the latest advancements in Atlanta real estate industry.
So, for your knowledge, I am listing some forecasts and predictions for the real estate market in Atlanta for 2016:
Among the top 5 markets in 2016
ULI or Urban Land Institute is a nonprofit organization dealing in sustainable development. This entity published a report recently titled ‘Emerging Trends in Real Estate report. It provides a comprehensive view of residential and commercial trends in real estate all around the US among other things. The latest report ranked Atlanta on the 5th spot of the top markets to watch for 2016. The ranking is based on the feedback compiled from survey respondents and interviewees. Most of these were housing experts and real estate executives. The general consensus seems to be that the housing market in Atlanta will continue thriving even in the next year.
Forecast: the market may cool down in the coming year
Zillow – the famous real estate app that I covered in my article on ‘Top 3 Free Real Estate Apps and Their Features’, provided a year’s worth of forecast recently for the Atlanta home prices and the expected home values in the vicinity were expected to rise by as much as 5.9% in the next year, i.e. from October 2014 to October 2015. According to this estimate, the prices of Atlanta homes rose by approximately 11% in the past year. This might lead to some cooling down of the increase in home prices. And while home prices will continue to increase in the coming year, the increase will be slower paced.
So, if you’re looking to build a career in the Atlanta real estate industry, you should consider closing on more high-end property deals to earn more profit despite decreasing real estate prices.
The Atlanta Journal Constitution has also reported a slowdown as far as home prices and sales were concerned. And while the start of this change may be difficult to identify, a little slowdown has already been established. Expectations of seasonal slowing are there.
Despite the slowdown, the prices of the housing market will still continue to increase, thereby showing that current and potential home owners will continue to benefit from this. Overall, the real estate trends in Atlanta look great and highly positive. The experts are especially very optimistic as they have also been recorded as saying that there is a strong outlook in terms of investor demand, capital availability, as well as local economy.
The 3 Atlanta real estate trends that I have mentioned here, should give you an idea about real estate outlook in Atlanta. To learn more, keep reading my articles on Luther Ragsdale.com and Platinum Real Estate.com. Also join me for my FREE million Dollar Producer workshop January 23rd, 2015. Visit my website to register www.lutherragsdale.com.