According to research released by the National Association of Realtors (NAR), Atlanta is the housing market with the most growth potential in 2023. The prediction came as part of the NAR’s list of markets to watch in 2023 which included exclusively Southern destinations this year citing home affordability, job and population growth, as well as large home inventories.
According to the release, there are three main reasons that the Atlanta metropolis came in at the top of the NAR’s list.
- Atlanta has greater housing affordability that comparable cities.
- There is a rapidly growing population in the “New York of the South”, outpacing many others on the list, and NAR estimates that 20% of Atlanta renters can actually afford to purchase. That’s more than the national average.
- Atlanta also enjoys a robust and growing job market which continues to attract plenty of big technology companies relocating from the West Coast like Apple, Microsoft and Visa.
In Atlanta as in other top markets, NAR analysts found that demand for housing continues to outpace supply, making economic conditions ripe for home prices to climb by at least another 5% this year. Read the full list from NAR here: 10 Housing Markets Expected to Lead the Nation in 2023.
It’s all just one more sign that there’s no better time than now for a new home in Atlanta. As experts in welcoming residents to new homes and communities all across metro Atlanta, the HBG team is ready to help! See featured Atlanta developments and Atlanta new homes available now or contact us today!