Positive News for Atlanta Housing Market

Though the media continues to portray the doom and gloom of the real estate market the reality is Atlanta is in a great position to make a quick recovery. Check out this encouraging tid bit from Forbes magazine. They label Atlanta as the "Envy of the Nation."

Forbes Magazine made some good predictions for Atlanta homebuilders and residents last week. While other cities, like Las Vegas and Phoenix are expected to see home prices decrease by up to 50%, Atlanta is predicted to see significant increases as early as 2009. (This reiterates that NOW is the time to buy Atlanta Real Estate. Discounts on current new home inventory are available now. They won't last forever!)

Although Forbes mentions the number of Atlanta foreclosures in early 2008, our continued steady job growth rate promises an end to our housing slump. In fact, next year home prices are expected to jump up by 32.5% for single family homes around the metro Atlanta area. Multi-family home prices are expected to rise by as much as 18.4% and job growth will remain around the steady 2% yearly increase that has kept Atlanta afloat and the envy of the nation.

We are placed at number nine in the group of ten "lucky cities" that are predicted to experience long term recovery that will begin next year. Other cities where home prices are expected to rise include Oklahoma City, Minneapolis, Colorado Springs, Salt Lake City, Austin, Portland, San Antonio, Charlotte, a nd Albuquerque. So while times may seem tough now, if we can just hold out for a little while longer, things should be looking up for the economy and the Atlanta housing market once again.

COntent taken from Forbes Magazine October 2008