The home market in Atlanta is seeing a surge in ownership and cost, which is some pretty spectacular news considering how bad the market in this Georgia city was doing only four years ago.
Once the economic engine that drove much of metro Atlanta’s economy, the building of home subdivisions dried up completely in 2009. Subsequent years showed no signs of residential home construction activity, as bank foreclosed properties flooded a real estate market with far more seller than buyers.
Now, the building, and the jobs, seems to be returning.
A prime example is the recent story on the Covington News website reporting the approval of a new 211 home neighborhood in Newton County. The county was one of the worst hit during the recession. The property for the neighborhood was sold for $5.25 million in 2006.