Atlanta is the best place to buy a home in 2023

The National Association of Realtors says metro Atlanta is the best place to buy a home in 2023 based on a variety of factors. Real estate expert John Adams visited the Good Day program to explain why Atlanta ranked first.

First of all

The cost of living in this region is lower than other major cities. This is due to the availability of cheap land and the lack of natural boundaries for urban development. Unlike Manhattan, which is already fully built out, Atlanta still has room to build new homes.

Second

the percentage of renters who are able to buy a home is much higher in metro Atlanta. This favors market stability compared to cities where fewer renters have the option to purchase a home.

The third factor

- an active labor market. Georgia and metro Atlanta continue to attract major economic deals, especially in electric vehicles and batteries. This creates new jobs and attracts investment. In addition, the information technology sector in Atlanta is evolving and growing.

The fourth factor

- plenty of opportunities for remote work. People continue to actively embrace remote work and this is affecting the demand for housing in affordable neighborhoods. It's important to note that home prices in metro Atlanta are not expected to collapse in 2023. The U.S. population is still growing and housing supply remains low. In addition, inflation is likely to continue to rise. Therefore, home prices in metro Atlanta and other major markets should not be expected to decline.