Despite the pandemic, the Atlanta Business Chronicle reported that the real estate market in Georgia’s capital city is booming.
While available housing is scarce at the moment, it wasn’t always that way. In fact, a new ranking reveals that since 2000, Atlanta is among the U.S. cities that have had the most newer homes for sale.
The analysis comes from real estate portal Homes.com.
Using the platform’s “Year Built” filter, the website scoured listings in each city built by 1940, before 2000, in 2000 or later, and between 2016 and 2020. The date ranges were divided into the following four categories: pre-war homes, older homes, newer homes, and modern homes. The roof helped distinguish between “older” and “newer” homes. According to U.S. News, roofs can last from 20 to 30 years.
“We decided on the earlier end of needing a replacement roof, and determined any house built before 2000 to be ‘older,’ while anything built in 2000 or later (and just reaching the age of needing a first roof replacement) is ‘newer,’” Homes.com explained in its methodology. “For the most modern homes in our review, we looked to the last four years for listings in every city.”
“The turn of the century ushered in new styles of houses, from smart homes to tiny homes, but also new industries and job markets. Advancements in agriculture, technology, and manufacturing meant expanded opportunities for college graduates and others seeking stable and future-facing employment—often in unexpected places,” Homes.com noted. “As a result, lesser known cities with ties to such industries, like Raleigh, Portland, and San Diego, experienced notable population growth after the year 2000, and all of those relocated people needed somewhere to live. New construction was the answer.”
Realty Biz News reported that in the 1990s and early 2000s, Atlanta was in its high-growth days, with many homes being built. On Homes.com, Atlanta came in at No. 5 on the list of cities with the most newer homes for sale.
Newer homes in the city make up 34.4% of the overall number of listings. It’s bested by Austin, Texas; Nashville, Tennessee; Raleigh, North Carolina and New Orleans.
Credit: Homes.com
Credit: Homes.com
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