Georgia, the state of “Southern Hospitality”, is a strong center for community and culture in the South. Located between Tennessee, North Carolina, South Carolina, Alabama, and Florida; the state is right in the middle of the southeastern part of the US (referred to as the “South”). Popular southern culture is seen throughout the state in music, arts, food, and even in business. Major cities like Atlanta, Augusta, Columbus, and Savannah are a hub of history and culture for the state. More and more people from out-of-state and within are moving toward major Georgian cities as jobs and other incentives attract new residents there.

Atlanta, the state’s capitol, is the largest city in the state and also the center for business and culture. With a population of 5.3 million people in the Atlanta surrounding area, the city has experienced substantial growth. Many different businesses have helped to increase growth with the creation of several new jobs. Some of the country’s largest corporations are headquartered in Atlanta including: Coca-Cola, Georgia Pacific, and Delta Air Lines. These businesses have continued to fair well in the economy and maintain jobs. Agriculture and other industries throughout the state have also helped Georgia to maintain a fairly stable economy. Read more »

The housing market in the state has experienced some of the most rapid growth for any state in the last ten years. The Atlanta market remains the fourth largest housing market in the U.S. and the second fastest growing. Over the last ten years, Atlanta has experienced some of the most rapid growth in population with an estimate of 900,000 new residents since 2000. As more people move in, more homes are built. Large population increases are evident indicators of a healthy housing market. Builders can benefit from a large demand for new homes without the worry of vacant lots and unsold homes.

Sales Trends
New home sales for 2008 in Atlanta were the fourth largest in the country at 19,034 new homes sold. The market has benefitted from lower housing prices than many other markets on the East Coast. At an average price of $149,500, new home buyers have been attracted to the area in comparison to other markets. Prices have remained low as competition in the market increases. Atlanta has been known as a market with lower market share from top builders. Top builders have moved in and are gaining market share. Big builders are keeping prices down as they produce larger numbers of homes for lower costs. Legacy Communities is one big builder that has increased market share with an impressive 7.0%. The Atlanta market, which is holding up the entire state, should see in increase in sales again as home buying picks up.

Other Key Trends
The community around the Atlanta housing market is rallying behind the market to help produce sales. Marketing campaigns are encouraging buyers to start buying homes again. The greater Atlanta Association of Home Builders has a campaign saying, “Get Home Atlanta!” to bring awareness to the consumer. Marketing can play a major part in the success of a housing market. Consumers often need a reminder or incentive to make purchasing decisions. With campaigns like, “Get Home Atlanta!” Atlanta residents are thinking more and more about finally purchasing their first new home. A more detailed look at this article is available here.  « Close »