Atlanta Will Bounce Back Sooner

Posted on Monday, June 30th, 2008

According to an article published by the Atlanta Journal Constitution, all of the hype surrounding the demise in the real estate market has been overly exaggerated. While there are many markets suffering greatly, Atlanta is not one of them. The well known housing bubble that affected Florida, California and Nevada was never anything larger than a tiny little bump in Atlanta. The stable Atlanta real estate market is nothing that you haven’t heard before, but what it means is that once the decline in the market is over and we begin the uphill process of returning to a booming market, Atlanta will bounce back faster than these other markets that were hit harder. Of course, this fact makes perfect sense - if we didn’t fall as far as the rest of the nation, then we don’t have as far to climb. Housing prices are expected to be higher than they were at the peak of the previous cycle in only few short years. The number of inventory homes currently available are going to be absorbed in the coming year due to Atlanta’s economy and job growth. Once these available homes are snapped up, there will be a shift in the supply and demand, causing housing prices to increase. Another aspect of the housing market you should consider is that there is a shift in what is considered a desirable location. With new demands for young professionals and aging baby boomers, mixed-use developments are becoming a hot commodity. It is for this reason that you are seeing so many live, work, play developments under construction in Atlanta. For those that are interested in this kind of lifestyle, no other new Atlanta condo development can compete with 1010 Midtown in providing a live, work, play environment. With a location on the Midtown Mile, residents at this new development have a myriad of recreational outlets and office space within walking distance to their front door.