Atlanta real estate is experiencing some of the highest price hikes it has ever seen, especially on the south side. Now a new report says the city will have one of the hottest housing markets of 2020.
Normally, real estate experts drool over West Coast housing markets, like those in California and even Arizona and Nevada, but this year will shape up to be different.
Atlanta Among Hottest Real Estate Markets For 2020
According to a Zillow panel of experts, cities like Austin and Atlanta’s housing market is most expected to outperform the national average.
Home values are expected to grow by 2.8% in 2020, according to more than 100 economists and real estate experts surveyed by Pulsenomics and Zillow panelists.
The panel assigned scores to cities to show where the growth would likely occur. Here is a sample of results.
-
- Austin: 76
- Charlotte: 59
- Atlanta: 51
- Nashville: 49
Unlike the other 24 markets that were analyzed, Charlotte was the only one that no panelist said it would underperform this year.
“Having subjected buyers to a crucible of fierce competition for multiple years, many West Coast markets hit an affordability ceiling that set off declining home values in the most expensive of these,” said Skylar Olsen, Zillow’s director of economic research.
“Indeed, this price correction— a clap back from having appreciated with too much exuberance in the recent past — pushes many previously hot markets to the bottom of our experts’ list. At the top of the list are metros still providing relative affordability and thriving, amenity-rich communities that appeal to younger adults willing to make a move. These features, plus the ability to grow and add housing in the future, are attractive propositions for employers and employees alike.”
Here Are The Hottest Real Estate Markets For 2020
Many panelists expect home values in San Jose and San Francisco to continue falling in 2020, and some expect more markets in California to join them. Sixteen panelists out of the 42 that selected at least one metro said home values will fall in Los Angeles, and twelve said the same about San Diego and Riverside.
|
U.S. |
Share Expecting |
Share Expecting |
Share Expecting |
Net |
|
Atlanta |
63% |
25% |
12% |
+51 |
|
Austin |
83% |
10% |
7% |
+76 |
|
Charlotte |
59% |
41% |
0% |
+59 |
|
Cincinnati |
12% |
42% |
46% |
-33 |
|
Columbus |
21% |
46% |
33% |
-12 |
|
Dallas |
49% |
36% |
15% |
+34 |
|
Denver |
55% |
23% |
22% |
+33 |
|
Houston |
32% |
46% |
22% |
+10 |
|
Jacksonville |
36% |
40% |
24% |
+12 |
|
Las Vegas |
41% |
24% |
36% |
+5 |
|
Los Angeles |
20% |
25% |
55% |
-35 |
|
Miami |
29% |
34% |
37% |
-8 |
|
Minneapolis |
23% |
58% |
19% |
+4 |
|
Nashville |
59% |
31% |
10% |
+49 |
|
Oklahoma City |
18% |
48% |
34% |
-16 |
|
Phoenix |
46% |
42% |
12% |
+34 |
|
Portland |
31% |
40% |
29% |
+2 |
|
Riverside |
21% |
32% |
47% |
-26 |
|
Sacramento |
21% |
28% |
52% |
-31 |
|
San Antonio |
44% |
44% |
12% |
+32 |
|
San Diego |
25% |
37% |
39% |
-14 |
|
San Francisco |
24% |
12% |
64% |
-40 |
|
San Jose |
23% |
16% |
61% |
-38 |
|
Seattle |
40% |
21% |
40% |
0 |
|
Tampa |
38% |
53% |
9% |
+29 |
How is The Real Estate Market In Atlanta, Georgia?
The real estate market in Georgia’s largest city is driven largely by a population and economy boom that shows no signs of ending.
Coming out of the Great Recession, Atlanta was a buyer’s market up until around 2015. That’s when it began to show all the signs of a strong seller’s market, meaning that homeowners could would be able to enjoy pricing leverage compared to the inventory.
In 2020, Atlanta is not quite a seller’s market, but is in between buying and selling, which makes for a full-on healthy real estate landscape. Can you still find real estate deals? Yes, but they are becoming less plentiful.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here.