With housing apparently on the uptick in Atlanta, local homebuyers are making different choices about where and how they live, reports the Atlanta Business Chronicle. Here are five key housing trends recently identified by the news site:
1. The majority of new single-family homes will be built in the suburbs—but they’ll be different.
Suburban living isn’t going away, says the Chronicle. But, over time, subdivisions will start to look more like traditional neighborhoods, with smaller lot sizes, fewer cul-de-sacs, and with houses situated closer to the street, the news site says.
2. Older Atlanta neighborhoods will experience gentrification.
Older, single-family neighborhoods like Adair Park will be sought after by young professionals, says the Chronicle, with housing affordability and “character” driving the appeal.
3. Multi-family housing and mixed-use developments will become the norm in-town.
Single-family homes in established urban neighborhoods will continue to be priced out of reach for many, says the Chronicle. So expect more walkable multi-family and mixed-use neighborhoods (including condo conversions) to be developed in West Midtown and other spots, the news site says.
4. Older suburban city centers will see a revival.
Suburbs are looking to make their communities more walkable and more rich with amenities, and their city centers are prime targets for development, says the Chronicle. Decatur and Roswell serve as the model of what suburban cities like Norcross, Douglasville and Hapeville can become, the news site says.
5. Changing demographics will strengthen the housing market.
As Atlanta sees an influx of new residents (many from other parts of the world), we’ll likely see more personalized housing, with features geared to religious and cultural customs. The aging population will also spur the development of housing to better serve its needs.
5 Predictions About the Atlanta Housing MarketFebruary 27, 2014Pauline Hammerbeckhttp://blog.allstate.com/five-predictions-atlanta-housing-market/With housing apparently on the uptick in Atlanta, local homebuyers are making different choices about where and how they live, reports the Atlanta Business Chronicle. Here are five key housing trends recently identified by the news site: 1. The majority of new single-family homes will be built in the suburbs—but…http://blog.allstate.com/wp-content/uploads/2014/02/Atlanta-Inman-Park.jpgAllstate5 Predictions About the Atlanta Housing Market