Now that we are in the fourth quarter of 2013, we begin to look forward to next year and 2014 Housing Trends in Acworth and Dallas, GA, as we anticipate job growth in our neighborhood with the pending projects including Lake Pointe and the Wellstar Paulding Replacement Hospital. And we look at opportunities for homes for sale in Acworth and Dallas GA as well. Fortunately, even with a year filled with conflicting news about our financial outlook, our region saw increased property values and mortgage rates that continue at record lows. According to CoreLogic Case-Shiller, the metropolitan Atlanta area saw home prices increase 19.2% in the first quarter 2012 through first quarter 2013. And while they anticipate some markets will lose steam in 2014, that can not be said for our area, where we are expected to see 4.9% increases through the first quarter of 2014, and continuing this trend through 2015, good news for homeowners that have homes for sale in Acworth and Dallas GA.
|Forecast change: first quarter, 2013 – first quarter, 2014||
|Forecast change: first quarter, 2014 – first quarter, 2015||
To understand how this might effect your home, see the following example:
Current home value: $225,000 a 4.9% increase could increase the current value $11,025 to $236,025.
[pullquote style=”left” quote=”dark”]Atlanta is in the top 10 among all metro areas in terms of year-over-year job creation and we have recovered 75% of the jobs that were lost to the Great Recession.¹[/pullquote] While this may not be the actual value of your home, home sales in our area are providing evidence that there is a demand for homes and homes are currently selling at an average of 98% to listing price. Job creation and industry growth in our area have helped to foster the increase in home sales. According to Metrostudy, the region created 56,300 new jobs from June 2012 to June 2013. And while that job growth is for metropolitan Atlanta, as we have previously reported, Lake Point anticipates bringing more than 26,000 jobs to our area, which will have an economic impact as well as provide demand for housing.
[two_third]New home construction is increasing in our area, while foreclosures are decreasing, which will shift competition for home resales. Many of the subdivisions that saw new home construction halted during the downturn in the housing market, have seen developers come in to build out the remainder of the community. As an example, Rosewood Park is near completion, Park at Cedarcrest has seen developers begin construction on two new subdivisions, Seven Hills is actively selling in several of their communities including the new NatureWalk subdivision and the Windsong Adult Homes.[/two_third] [one_third_last]
For more information on the growth of our area, you can review the Annual Report from Paulding Economic Development.
If this information has piqued your interest, please contact us so we can discuss the possibilities. In the meantime, if you would like to know the value of your home, please complete our FREE market valuation.