The most recent Case-Shiller housing index shows Atlanta with the 5th highest yearly gain in housing prices.
The one-year pricing increase of 13.4% placed Atlanta behind only Phoenix, San Francisco, Las Vegas and Detroit.
According to the Home Builders Association of Georgia website, the economic impact of the recent real-estate crash was devastating. At the height of the downturn, between 2007-2008, over 100,000 housing related jobs were lost in Georgia. The total economic impact was in excess of $5 billion during that one year.
The rebounding prices for housing in metro Atlanta is expected to help revive the housing and construction industry.
Business 2.0 magazine recently ranked Atlanta in the Top 10 for Rising home values.
A recent article in the Times-Herald.com had business leaders in the hard hit counties of Coweta and Fayette cautiously optimistic of a positive housing market, “The housing market continues to be a barometer for economic growth, and we have certainly seen the residential sector pick up over the past two years,” (local banker) Ashley Schubert said.
For more information on the economic impact of the housing industry click HERE