Before expressing my opinion, I would like to share some data with you.
According to FMLS, Georgia’s largest real estate database, the report states:
Comparing from January to September 2017, and from January to September 2016:
>Total sales increased 7.51% from $ 17,468,171,671 to $ 18,780,029,159.
>The average selling price increased 4.99% from $ 266,182 to $ 279,469.
>The median selling price increased 5.63% from $ 213,000 to $ 225,000.
>Units sold increased by 2.40% from 67,625 units to 67,199 units.
>The average days on market decreased by 16.13% from 93 days to 78 days.
2017 Q3:
>The unit sold was 23,211 which was 25.24% up from 18,533 comparing to four years ago.
>The unit for sale was 11,370 which was 55.9% increase from 7,293 comparing to four years ago.
>Listing units were 31,634 which was 22.71% up from 25,779 comparing to four years ago.
>The inventory unit was 25,023 which was 6.27% down from 26,696 comparing to four years ago.
Due to the growth in sales and the decrease in inventories, I personally think house prices will grow in the next five years, although the growth rate may not be as fast as in the past five years. Increasing interest rates in recent years may also impact some buyers and slow the growth. However, with the U.S. economy recovering and strong housing demand, President Trump’s plan to lower tax and reduce bank regulations could have a positive impact on the real estate market.
In addition, Atlanta’s housing price and rents are still quite affordable comparing to other cities in the United States. With an affordability index, an annual income of $ 50,000 in Atlanta is roughly equivalent to annual income spending power of $ 63,632 in Seattle, annual income spending power of $ 58,551 in Chicago, and annual income spending power of $ 83,954 in San Francisco, annual income spending power of $ 111,569 in New York, which makes moving to Atlanta quite attractive to other metropolitan residents.
Above is my personal opinion to share with you. If you think this post is somewhat helpful, please help to share and like the post or give me a feedback. If you have another question or comments, please feel free to contact me.
Cheers.