“National analysis finds that city and metro economies remain strong and vibrant” – Josh Green with Curbed Atlanta
When multifamily living options in formerly downtrodden Atlanta neighborhoods start nipping at the $1 million mark, it’s only natural for talk of another dreaded “bubble” to emerge.
But dropping the B bomb in reference to any facet of metro Atlanta real estate could be premature, suggests a national, annual analysis by Coldwell Banker Commercial Affiliates called the Blue Book Market Intelligence Report.
The report notes the usual titans of Atlanta industry—Home Depot, UPS, Coca-Cola, the world’s busiest most visited airport—and their continued positive influences on the economy.
But it also specifies that Atlanta is the country’s No. 1 market for corporate relocation now, “bolstering employment, higher wages, and household income while increasing demand for more units in virtually all real estate sectors, particularly multifamily and office space.”
Additional positives working in metro Atlanta’s favor, per the report, are two recently finished sports complexes, the growing influence of Alpharetta’s Avalon, and Pinewood Studios’s support of “the area’s ever-burgeoning movie industry.”
Compare that with, for instance, a note about the situation in Miami and Dade County, Florida: “Vacancies are rising across the board for all property types except office,” analysts wrote. “This is due to the delivery of new high-end construction projects without the necessary increase in high-paid wage earners in the area.”
Other notes of interest, regarding Atlanta’s economy, per the analysis:
In summation, metro Atlanta’s economy “remains strong and vibrant throughout … with no foreseeable ‘bubbles,’” per the report.
The analysis logs the City of Atlanta’s population at 472,522, with 5.79 million in the metro now.
The unemployment rate for both—4.1 percent—is a tick above the national average as of April, 3.9 percent.
Article provided by: Josh Green with Curbed Atlanta