The Atlanta region is showing strong job growth and strong levels of single-family home permits, according to a new report from Metrostudy Corp.
The residential real estate research firm's fourth quarter Atlanta Housing Report found net jobs in Atlanta through December 2014 increased by 67,400 positions, up 2.6 percent year-over-year. Atlanta ended the year as the No. 8 most populous MSA in the country, No. 7 for job growth and No. 3 for single family building permits. Foreclosure activity has hit a twelve year low and resale inventory remains low.
In other words, all key metrics point towards stronger housing growth for 2015.
"There were 73,099 single family detached used and REO properties sold over the past 12 months ending in 4Q 2014," Eugene James, regional director for Metrostudy, said in a statement. "21 percent of these closings were REO sales (one year ago it was 25 percent). The 4Q14 median sales price was $166,900 11 percent above the year over year median sale price of $150,000."
James added pre-foreclosure activity continues to decline and is at a twelve year low, resulting in fewer foreclosed homes and additional upward pressure on home prices.