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See sizzling air balloon land in unlikely spot
A house owner captured the aftermath of a sizzling air balloon carrying over a number of passengers that landed in his yard.
A brand new nationwide report is placing Georgia’s capital within the highlight for these seeking to purchase their first dwelling, at the same time as affordability challenges proceed.
Atlanta was named among the many greatest U.S. cities for first-time homebuyers in a brand new rating from Travel + Leisure, which analyzed housing knowledge from Zillow.
Here’s what to know.
Why Atlanta made the checklist
The rating targeted on components like affordability, out there stock, and competitors amongst patrons.
“First-time buyers are still navigating a difficult housing market, but conditions are improving in some parts of the country,” Zillow senior economist Orphe Divounguy stated. “In these markets, rents eat up less of a household’s budget, affordable homes make up a larger share of listings, and there is less competition for attainable homes.”
In Atlanta, about 45% of properties in the marketplace are thought-about inexpensive, in accordance with the report.
A shifting housing pattern
The report additionally factors to a altering dynamic within the metro space.
According to a latest evaluation cited within the rating, Atlanta is “poised to become ‘the only major U.S. metropolitan area where exurban home prices exceed those of the accompanying city.'”
That might imply first-time patrons could discover higher alternatives inside the metropolis itself quite than in surrounding suburbs.
Home values in Atlanta
Home values in Atlanta are additionally exhibiting modest motion.
The common dwelling worth sits round $385,000, reflecting a 4% lower from the earlier yr, a shift that would ease stress for some patrons getting into the market.
What it means for patrons
Zillow says cities that made the checklist provide a extra balanced mixture of affordability and alternative.
“Buyers in these metros can expect to see more homes within budget, less pressure competing for those homes, and a larger share of same-age households already in or near the home-buying stage of life,” Divounguy added.
For Georgia patrons, that would make Atlanta one of many extra practical entry factors into homeownership proper now, regardless of broader housing challenges.
8 greatest US cities for first-time homebuyers
- Jacksonville, FL
- Birmingham, AL
- San Antonio, TX
- Atlanta, GA
- St. Louis, MO
- Houston, TX
- Detroit, MI
- Raleigh, NC
For the complete report, go to travelandleisure.com/best-places-to-live-for-first-time-homebuyers.
Vanessa Johns is the Trending Topics Reporter for the Deep South Connect Team Georgia. Email her at [email protected]m.
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