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The Atlanta housing market was hit hard by the recession between 2009 and 2012. The housing “bubble” burst and the economy fluttered sending many homeowners into foreclosure and home values and prices dramatically down. However, the housing market in the Atlanta area is starting to get hot and improve to levels that haven’t been seen in years! There are many factors that are contributing to this growth including job growth, a better economy and smaller availability of homes on the market in the Atlanta area. The demand for homes is up, but the supply is low. You can see the improvements for DeKalb and Clayton counties in Georgia at this website.
According to Eugene Jones of MetroStudy’s Atlanta Market, “Job growth is one of the single most important drivers of home demand and Atlanta’s pace of job growth is one of the highest in the nation.” Atlanta is in the Top 10 of year over year job growth since the recession hit 5 years ago. When there is job growth, there is need for new homes. New home construction has also continued to grow for the first half of 2013 in Atlanta. Companies continue to relocate to Atlanta due to lower cost of living, younger workforce, lower housing costs, cultural events and being close to good universities and educational opportunities. The improving housing market is also a factor in the slowly growing economy.
Another condition helping to create a hot housing market is the shortage of inventory of homes that are being sold. This makes home prices go up because of the higher demand for housing. In Atlanta, it is becoming a seller’s market, where homeowners can get the amount that they are asking for their homes and sometimes more. The increased value hasn’t fully reached the level of home values during the housing bubble, but it is slowing approaching that level. The amount of short sales and foreclosures are decreasing, which also helps the market. Also, during the recession, homeowners were making renovations and improvements on their homes instead of selling them. Now, they can put the homes on the markets and actually get more money for their homes then they would before. Also, this leaves little negotiating room for the buyers as the demand is so high.
With the improvement in the housing market, there is an increased need for storage space due to moving or downsizing to smaller homes. Storage World in Decatur and Jonesboro, has the storage solutions to fit your storage needs from smaller units to large storage units that can fit the entire contents of a 3 bedroom home. If you are moving to a smaller home and do not know what to do with belongings that will not fit in the new space, consider placing the items in a self storage unit until you can find homes for the items or decide what to do with them. If you are moving to another home in the southwest Atlanta area, then renting a storage container from Storage World on Wheels is a great option to use instead of renting a moving truck or hiring a moving company. Stop in at one of our locations to find out more information about the mobile storage solution.