HEY THERE!
It’s April and spring is in full swing! Some of the best weather of the year is ahead and the housing market sure is warming up – our kind of paradise.
Pull up a chair, grab your beverage of choice and join us as we give you the full spring low-down in our city.
As always, if there’s anything we can assist with, send us a message, we’re always here to be a resource.
House-hacking: the generation that loves it most
House hacking (n): the practice of renting out a portion or the entirety of one’s home to generate additional income.
Know who loves the growing trend the most? Millennials and Gen-Zers. It’s true — more than 55% of Millennials and 51% of Gen Z homebuyers expressed positive views on house hacking.
I worked with a client who was ready to get into a home of their own. Once they found the one, they rented a bedroom to a friend. Offsetting their monthly expenses was a major plus for them.
It’s important to note: Homebuyers will need to work with a lender to ensure they can afford the mortgage without the rent, and be comfortable making monthly payments with or without it.
Greater Atlanta Metro homes sell for 7.6% more than in February 2024, despite a 22.5% drop in sales.
In other words…
The housing market in Atlanta is becoming increasingly competitive as prices have risen by 0.51% just since March 2024, and they won’t be going down anytime soon. Along with the NAR settlement looming, commission in cash at closing is making it more difficult for buyers to find an affordable home. For sellers, the market conditions are favorable with prices rising, but unless it’s turnkey, homes are sitting on the market a bit longer, the demand is still there, but buyers are being pickier about homes than they have been in the past 3 years.
Atlanta named #1 city to start a business
Strong business growth, a large talent pool, and low operating costs make Atlanta the #1 the best city to start a business — up from No. 5 in Home Bays’ 2022 ranking.
Atlanta may be home to mega corporations such as Coca-Cola, Chick-fil-A, and Delta Air Lines, but young companies play a big role in Atlanta’s economic ecosystem.
Not to mention the uptick in the GA film industry and the jobs it brings to the state. While actors may not being buying the bulk of homes, many production crew members are making Georgia their new home. We don’t expect the influx of out of state buyers to slow down anytime soon.
“We are a city of entrepreneurs, innovators, incubators and thinkers who are helping us create a city of opportunity for all… We continue to be leaders in making this city the best place in the country to raise a family, and now, start a business” – Mayor Andre Dickens
