Greetings From ZOOMTOWN USA! Why These Towns Are Cracking..

Atlanta (& Metro) Q3 Numbers Hold Steady.. All While Inflation Numbers Come In Above Expectations, Further Fueling the Headlines..

The Atlanta Market as a whole showed resilience in Q3 compared to the prior quarters. Especially considering the many negative macro factors at play. Inventory picked up primarily as a result of less excess demand. While the amount of FOMO sellers has increased, most of the increase in the "Months of inventory" metric comes from lessened buyer demand. Finally, Home pricing has fallen slightly QoQ, to be expected considering the rise in interest rates from the prior quarter.

Something to keep in mind:

It is important to look at certain metrics when determining the strength of the area you live or plan to live in. Atlanta in particular has had strong and steady population growth over the past decades. It also helps to be home to the busiest airport in the world and a laundry list of fortune 500 companies. These companies bring a lot of jobs. Those jobs in turn fuel our local housing market & overall economy. This is in contrast too many COVID fueled "zoom towns". These were lower populated areas that saw a large influx of demand because of the low cost of living. Now that many employers are requiring their employees to come back into the office, these "zoom towns" are seeing MUCH larger draw downs in housing prices.

Sometimes you have to keep the blinders on when reading the media headlines. Remember, real estate is very localized. While it is obvious that macro economic factors play a role in all local markets. Some will stand the test of time much better than others. In my opinion, Atlanta will be one of those...

Going in another direction. If you like to dabble in the commercial side of real estate, you might find this piece interesting. Listen to this Bloomberg interview with Blackstone's Co-head of Real estate, Kathleen McCarthy as she talks through the asset classes they see outperforming in Q4 22-23. 

Read more here:     https://www.bloomberg.com/news/videos/2022-10-13/blackstone-s-mccarthy-on-the-global-real-estate-outlook