Spring is just a week or so away and the spring selling season is in full swing with homes being snapped up by homebuyers in the metro Atlanta area. Metrostudy, a Hanley Wood company and the nations leading provider of research and analysis in the residential real estate development and new home construction markets, predicts robust activity for housing, construction and lending in 2015. Analyst David Cobb forecasts 1,080,000 starts, 504,000 new home sales and 11,133,698 remodels.
Metrostudy also conducted a study for the Atlanta market in February 2015. According to the study, the total housing inventory a figure that includes houses under construction, model homes and finished but vacant or unsold houses, is at or below equilibrium levels and the months supply declined to 7.9. One year ago it was an 8.1 month supply.
The most important housing inventory metric to pay close attention to is the Finished/Vacant inventory (homes completed but unsold or still vacant) months supply which is at 2.9. Normal for the region is about 3.5 months.This means that housing inventory, particularly new homes is still low compared to past years and when housing inventory is low, the new home prices tend to climb higher.
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Rocklyn Homes has communities in Barrow, Cobb, Forsyth and Gwinnett and coming soon to South Fulton Counties.