Atlanta GA - 5.6 Million People and growing! Atlanta's Real Estate Future Predictions - April 2010! One of the first landmarks I remember seeing in Atlanta was the Population Number at The Darlington off Peachtree Rd. In 1982 it had a number at approximately 1.8 Million.
Fast forward 28 years later and yesterday, this is a picture of the same sign. Atlanta is at 5.6 Million in population. We've seen tremendous growth throughout the past three decades. In the late 1990's, Atlanta was gaining over 100k jobs a year which fueled strong expansion.
In early 2002, the sign read 4.5 Million people. Atlanta is more poised for continued growth because of it's delightful weather, phenomenal airport, relative low cost of living for a big city and friendly people.
So, while we've seen a slow down in our economy, we do expect a reasonable recovery. We have a great city with a lot to offer! Inventories are reducing quite a bit in the single family homes market. In some cases, there are bidding wars on new listings in better areas, where there is currently nothing for sale.
On the flip side, the condo/townhome market has a much longer recovery ahead. Also in this trend is the commercial market. Both are dramatically overbuilt because of the low barrier of entry for new banks in Georgia over the past decade.
It will take some time and certainly the overall US economy will impact our recovery. In Atlanta, GA - Single Family Homes will be the first out of the doldrums, with a possible strong recovery with low inventories late this year, 2010 or early next year in 2011.
The SOUTH will rise again! Come join us. Are you considering a move in Atlanta?
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