The National Association of REALTORS® (NAR) announced that Atlanta, Georgia is positioned to be the #1 housing market in the United States in 2023 with the most potential for positive growth in the new year.
Researchers with NAR considered 10 key indicators that influence market conditions including housing affordability, employment conditions, share of work-from-home opportunities, renters' ability to purchase, and increasing migration gains. Among the 179 metro areas analyzed by the National Association of REALTORS®, Metro Atlanta was the only area to meet all 10 real estate market indicators.
According to NAR, "The Atlanta metro area continues to be more affordable than most areas across the country, with more than 20% of the renters able to afford to buy the typical home in the area. The job market is robust, with many major tech companies from the West Coast opening offices, such as Apple, Microsoft, and Visa. As a result, the area experiences substantial migration gains and fast population growth."
Even amidst the backdrop of a national housing correction, the South is expected to remain a booming region for home sales in 2023. “The demand for housing continues to outpace supply,” says NAR Chief Economist Lawrence Yun. “The economic conditions in place in the top 10 U.S. markets—all of which are located in the South—provide the support for home prices to climb by at least 5% in 2023.”
Top 10 Real Estate Markets to Watch in 2023
The 10 Key Housing Marketing Indicators Researched by the National Association of REALTORS®:
We view ourselves as partners on the developer’s team. As trusted advisors and consultants to the project, we ensure that each decision is thoughtfully made with the buyer and ultimate success of the project in mind. In order to maximize the value of the project at each phase of the development process, Compass Development Marketing Group is typically engaged well in advance of the sales launch and often consults on the planning and pre-marketing of a project 1-2 years before the project is released for sale to the market.