Atlanta Home Market Update – Demand Brings Change

The Atlanta home market has changed quite a bit since the early 2000s. We’ve seen and felt the changes in our business and discussed the impact with our local builder colleagues in the area. Suffice to say there aren’t as many local area family builders as there used to be, compared to even just a few years ago. Increased demand has created various housing market changes for Atlanta.

Home Market Update

Recently an AJC article shared that when home prices begin to rise, this tends to do more than just affect how much homebuyers will pay. It often makes people willing to shop around more, potentially settle for less, and possibly even put their homebuying plans on hold. All three of these are currently being seen around the Atlanta home market as part of the strong rebound happening over the past few years. The article also talked about how it has taken one young Atlanta couple up to six months of home shopping around the metro area to finally find a place that met their needs and satisfied enough of their wants.

Supply and Demand

Over the past ten years, we’ve certainly noticed an influx of more regional and national builders increasing their residential construction activities across the metro Atlanta area. From this, we can certainly understand over the past few years, how essentially the law of supply and demand has made it more challenging to buy or sell a home in the Atlanta area. We believe that the decrease in locally-owned and built residential construction has become the main issue in creating the current home market challenges for buyers and sellers. Unlike local homebuilders, the national & regional guys tend to follow rising profits and build elsewhere as a result. This can cause issues for local builders struggling to keep up.

Rising Challenges

The noted increase of “bigger” builders around town creates two challenges for local builders in the Atlanta home market  – Land is more expensive and so is labor. The rising cost of land and construction development have gone up dramatically since 2008. Variables in the “cost of business” tend to have more impact on local, family-owned companies versus the out of state builders. These market conditions typically drive home prices up because there is an even greater incentive to build more expensive homes in order to make enough profit.

Helping Homebuyers

The couple we mentioned earlier said, “If you want to be under four hundred grand and you are trying to find a house with two baths and good square footage and not in need of renovation, well, that is hard to find.” As a family-owned business of local Atlanta home builders for 30+ years, Brock Built remains dedicated to building and selling premium quality, affordable homes in some of Atlanta’s best locations. So, if that’s how you’ve been feeling about trying to find a great home in a beautifully designed community then we invite you to contact us now. Visit our website now and see all the current homebuying opportunities we have available. We look forward to helping you begin new traditions in a new home by Brock Built.