If you are moving to Atlanta, there is an important aspect of the housing market to make sure that you are aware of; in Atlanta, housing costs can vary depending on the sale of distressed properties. Although many metro areas follow this real estate rule, Atlanta increases the average price of homes more than any other metro in the United States.
Not sure what all of this means? Let’s say that you have been looking for homes in Atlanta throughout the past year. When the time comes to decide upon a home to purchase and to make the move to Atlanta, you may notice that the prices of homes have risen – without any explanation why. If the city is not selling distressed properties at a decent pace, they will raise housing prices a certain percentage in order to compensate for the mortgage costs from said properties.
Over the past year, the average sticker price for an Atlanta home rose six percent. California based research and analysis company, CoreLogic, says that the numbers are expected to continue to steadily increase, reaching a 4.5 percent increase within the next 12 months. Atlanta movers urge house hunters to buy while prices are slightly lower, as CoreLogic does not foresee a decrease in Atlanta housing costs anytime soon.