Despite the myriad of 2020 challenges, top Atlanta real estate professionals say the local market is solid. “Atlanta is one of the strongest in the nation, based on supply and demand, as well as the fundamentals of the market,” says HARRY NORMAN REALTORS CEO Jenni Bonura. She cites low inventory, relatively brief times for homes on the market and fewer price reductions as signs that Atlanta’s “recovery period [from the pandemic] will be shorter than average.”
The national economic challenges have also precipitated a dip in interest rates. “They have helped keep our market moving and are helping build momentum,” explains broker Jere Metcalf of JERE METCALF PARTNERS, part of Atlanta Fine Homes Sotheby’s International. She’s also noticed a slight shift in buyers’ preferences. “Now people are more focused on having a home office, outdoor space and floor plans that offer some private space,” likely as a result of recent shelter-in-place directives, Metcalf notes. Though there’s no crystal ball to predict the future of Atlanta’s real estate market, these industry leaders remain optimistic.