Take Advantage of Atlanta’s Bustling Real Estate Market
Loading...Loading...Loading...Loading...Today, real estate investors have more options than ever before, with a multitude of markets ripe with new investment opportunities. Savvy investors understand that no two real estate markets are alike, so it becomes extremely important to identify which markets are primed for growth and which markets you should tactfully avoid.
Over the last few years, the Atlanta real estate market has seen tremendous growth, favoring well against market challenges. In fact, recent trends make it the perfect recession-resistant market to build or expand any real estate portfolio (Mansion Global).
Between a thriving labor force and a warmer climate, Atlanta has been a bustling epicenter for real estate and has generated a ton of buzz recently among industry professionals with respect to home prices, appreciation metrics, and rental outlook.
Doorvest has strategically expanded its footprint into this market to help empower investors to cash in on new high-growth real estate investment opportunities. Let’s take a look at a few reasons why Doorvest recommends taking advantage of Atlanta’s booming real estate scene.
Recent data confirms that the year-over-year national average for home appreciation has slowed. However, there are still many outlying markets forecasted for strong home value appreciation over the next year.
Choice markets like Atlanta, Georgia, Houston, Texas, and Columbus, Ohio, are areas poised to experience solid growth in terms of home prices – all of which are within Doorvest’s servicing footprint.
Home values in Atlanta are expected to grow by approximately 4.1% year-over-year in 2023 according to Zillow’s Home Value Index (Bigger Pockets).
This is partially due to the city’s rising population, which has grown to nearly 5.1 million people (WABE). Better affordability and a strong labor market have also helped fuel Atlanta’s housing market.
Even though many experts are predicting a national correction in home prices between 5-10%, low inventory is helping mitigate concerns in certain markets, with Atlanta being one of them.
The fact that the Atlanta housing market is expecting continued expansion over the next few years offers an amazing investment opportunity for those who enter the market now.
Real estate investors are seeing incredible long-term appreciation for rentals owned in the Atlanta market. In June, the average home price in Atlanta was $367,000. If you had owned a comparable property last year, it would have appreciated by more than 20% year-over-year (11 Alive).
In fact, Atlanta has been one of many metropolitan areas across the country where single-family home prices have increased between 200-299% over the last decade (Newsweek). Consider what your return on investment could be if you bought a new Atlanta rental property right now and held it for another 10 years.
Atlanta’s housing market remains competitive as higher interest rates and inflation are receding home-buying demand. Recent reports show that approximately 23% of homes under contract in Atlanta for the month of August were canceled (Atlanta Business Chronicle).
Part of the reason for this drop is that many promising new homebuyers are having second thoughts about buying, deciding to delay the purchase of a new home, and alternatively rent until affordability improves.
Additionally, the Atlanta market will have an undersupply for single-family rentals for the foreseeable future. Estimates identify that this segment of the market could grow by roughly 700,000 over the next couple of years (Atlanta Business Chronicle).
Both of these sentiments make the Atlanta rental market a clear winner if you're choosing between a few different rental real estate markets to invest in long-term.
New and seasoned real estate investors looking for new investment opportunities should consider taking advantage of Atlanta’s booming rental housing market.
Demand for rental housing in the Atlanta area has surged as more households are delaying buying and choosing to rent instead. Suppressed inventory despite a growing population has also helped fuel growth.
Home prices are expected to continue their rise and investors can take advantage of long-term appreciation by entering this market now while it continues to expand.
If you are unsure about how to strategically invest in the Atlantic area, Doorvest makes it easy to invest in new Atlanta investment properties with the click of your mouse. Start building wealth today by owning high-yield rental homes in one of the hottest real estate markets around.