Ever since the American Civil War, Atlanta has been growing, attracting new and diverse people and developing new industries that attract more people to the area. Due to this fairly unstoppable growth trend, the Atlanta housing market has always boomed and there has been no exception in the past few years. Fortunately for people looking to buy homes within the city and in its suburban areas, developers in the city are aware of the possibilities in the housing market and continue to make homes available for those who are looking.
Interest rates are particularly low at the moment, making this a great time for first-time buyers or developers to move in and grab what they like. Realtors say that this is the case because the Atlanta housing market is, as always, still growing. With the high demand and an almost unlimited amount of space in which to expand, the city keeps meeting these requirements. The city is on the top 10 list for places in which to buy houses and the appreciation rate for homes has remained at around 5 percent for the last two years.
Realtors also note that Atlanta is the second largest housing market in the nation. They also anticipate that trends will continue steadily in the near future, although the North Atlanta areas are definitely slower than in the rest of the general area. The relative slow down of the housing market, not only in North Atlanta but in the city on the whole, when compared to its ratings in recent years, has been attributed mostly to two factors: the war in Iraq and Hurricane Katrina. The economy has shifted to put the focus on these two incidents/events and as a result the entire housing market of the United States itself has suffered, however given the strength of the Georgian and especially the Atlanta housing market this has not had a particularly devastating affect on this region – in fact no one would even come close to calling the Atlanta housing market ‘devastated’ because it continues to push ahead for both buyers and sellers.
The rental market also continues at a decent rate with vacancies at about 10 percent; owners are bringing in money from their rental properties and renters are still finding apartments to occupy. All in all, given the slump of the rest of the country one of the very best places to either look at buying or selling a house for development or purely living purposes is Georgia, and certainly Atlanta itself. If you keep away from the northern suburbs of the city you should be able to find rental accommodation or property both to buy and sell and with a five percent value increase that continues from the last few years, you will gain from the investment in the long run.