Some interesting trends for Atlanta from RISMedia Real Estate News...
"So what affects home values over time and what are the odds that your investment in real estate will pay off in the future? Home prices are generally driven by supply and demand, population and job growth, costs of new construction and mortgage rates. Atlanta currently has an overabundance of supply. Single family homes currently show over 13 months of supply. That said, new homes starts are significantly lower so the current excess supply is expected to be absorbed in the next 12- 18 months. This is why - listen to these trends on Atlanta.
Atlanta has an incredible future. Our economy is strong and diversified. We have an active and business-friendly government. Hartsfield-Jackson airport is an incredible asset which allows passengers to reach more places in the world quicker than any other metropolitan area.
• Atlanta created 60,000 new jobs In 2006 - 3rd in the nation. (Bureau of Labor Statistics)
• Atlanta has the highest percentage increase of new millionaires - 1st in the nation. (Claritas)
• Atlanta is the #1 destination for young professionals. (Geolytics & U.S. Census)
• AARP rated Atlanta as the best city for baby boomers & seniors to live.
• In the last 6 years, Atlanta added more people than any metro in the nation. (Fortune)
• Fortune magazine says that Atlanta is expected to add 2 million more by 2020 - roughly the size of Denver.
• The Census Bureau and Virginia Tech released a report that says that in the next 25 years, Atlanta will be the center of a “Megapolitan” cluster of over 7 million people."
Please see below for a link to the complete article.
http://rismedia.com/wp/2007-10-08/prudential-georgia-realty-state-of-the-real-estate-market/