Purchasing a house during challenging or unstable economic times can be unnerving, especially when you’re not in the know about the state of the local new market. However, if you’re just beginning your home search in Atlanta or its surrounding communities, you can rest assured that there is plenty of information to be had about the metro area’s residential opportunities, particularly in terms of brand new homes it comes to brand new homes. Judy K. Mapp, South Atlanta general manager for Adams Homes, shares her insights on what is happening across Atlanta and what you need to know to prepare yourself to make the most of the city’s new home market.

How would you describe the state of metro Atlanta’s new home market?

As of July 2024, Atlanta’s new home market is experiencing a mix of stability and shifting trends.

The demand for new homes in Atlanta remains strong, driven by factors such as population growth, a robust job market and relatively affordable housing compared to other major metropolitan areas. However, the supply of new homes is somewhat constrained due to ongoing challenges in construction and land availability.

What can people expect when it comes to prices in the new home market?

New home prices have been relatively stable but are showing signs of moderate appreciation. Builders are facing higher costs for materials and labor, which can impact new home prices. However, these prices have not escalated as rapidly as in some other markets. Additionally, mortgage rates have seen some slight fluctuations, which have impacted buyers’ purchasing power. While most of us who have had experience with interest rates highs and lows are keeping an eye on the situation, now is still the best time to purchase a home.

How do local builders feel about working within the new home market?

Builders remain cautiously optimistic. While they face some economic pressures, the overall sentiment is positive, with many continuing to invest in new developments and communities around Atlanta.

Where is the best place to look for a new home in metro Atlanta?

In Atlanta, the market for new homes is segmented. Suburban areas around ­Atlanta—such as Alpharetta, Marietta and Roswell—are seeing strong interest due to their family-friendly environments and good schools. In contrast, the urban core and its immediate surroundings are experiencing a higher demand for smaller, more affordable options and mixed-use developments.

What are some of the trends in today’s new home market in Atlanta?

Remote work trends have influenced the noticeable shift towards suburban living. Homeowners are looking for more space and less traffic. One of the key factors that sets Atlanta apart from other markets is the easy access to downtown from any place outside of the perimeter. Even though rush hours can be painful, homeowners love the ease of access to sports events, concerts and exhibits. Atlanta is also experiencing an unprecedented increase in TV and film production in the metro areas, which increases the demand for future housing, schools and jobs. While the Atlanta new home market is facing some challenges, it remains dynamic and attractive to buyers and investors, with a balanced approach to pricing and development.

What should I look for when choosing a homebuilder?

When considering a homebuilder, remember to do your homework. Research their previous builds and communities; this would include a ride-through of current or old communities. A referral to a homebuilder is always a plus. In this age of social media, it is always nice to see what others are saying about a builder. Make sure you’re aware of the builder’s reputation, quality of work, average price point, financial stability, warranties offered, post-sale service and industry longevity. During the process, be sure that you can regularly schedule time to discuss changes, delays and the progression of your build.

For more information, visit the Adams Homes website.