It’s hard to find a housing market not presently on fire, Atlanta is no different. Compared to a decade ago and the worst housing crisis ever, this market turn around improvement is among the tops in the country. The 2022 market could not be more different than the 2010-12 market...over 100K homes were on the market during the darkest days. The Atlanta real estate market explosion is due in large part to its broad appeal, size and vast selection of properties. The “Atlanta Real Estate market” is a misnomer; the area is akin to spilled glass of milk. With no natural boundaries, it sprawls over 8 to 16 counties depending on who sources the information. Each area is its own micro market but all contribute to the overall "Atlanta housing market".
The current market (March ’22) remains historically tight; home buyers are experiencing competition like never before. Rising rates, rising rents, diminishing inventory and corporate investors are in the mix. Inflation and gas prices are also making history, for the wrong reason as the global economy remains turbulent. Locally, Atlanta roared out of the last crash, a look back over the last decade illustrates just how robust it was once the wreckage cleared. Helping everything is that so many corporate HQs are located in the area along with one of the busiest airports in the world. There are several fundamental positives in this market beyond the inventory crunch; something that many other areas of the country lack. This video touches on the key market indicators over the last decade and briefly looks at the key influences of the present market.
It’s clear that the market was on a nice upward path from 2012; the market was largely balanced and had that “traditional” feel to it. We know what covid did but Atlanta has always been an investor playground and Wall Street is on a buying spree. That jump starting mid 2019 was pre-covid; the virus sharpened the edge and further tightened things up. The lack of inventory and sustained demand pushed list and sale prices to historic highs.
BUYERS & SELLERS
The overall "buyer's" or "seller's" market question is best answered visually. As 2012 broke, the hangover from the crash remained, but signs were pointing to a recovery. Balance was in place from about mid 2012 through mid 2015; at that point the market slowly settled to slightly favor sellers. The glut of inventory was absorbed (investors were ravenous) and a nice, boring pattern ran from mid 2015 to early 2020. Of course the wheels came off in March 2020 and sellers have held the controls since. This is expected to remain the pattern into 2022 but if anything has learned over the last decade, it's to never look too far out.
As mentioned, “Atlanta” is not a monolith; it’s a conglomeration of many cities and micro markets, all unique and different. We cover just about all of them, familiar with the data and trends from the sales side AND appraisal side. It’s an edge our buyers and sellers enjoy and one that routinely gets them ahead of the very hungry pack. There's so much more to know - ask us....
The Hank Miller Team puts 30+ years of full time sales & appraisal experience to work for you. Act with complete confidence & make sound, decisive real estate decisions. 678-428-8276 and firstname.lastname@example.org Posted by Hank Miller on