Newly Constructed Homes Make Up Nearly A Quarter of All Atlanta Area Home Sales
Newly constructed homes made up nearly a quarter of all home sales nationally during the first quarter of 2021, a new high. In the Atlanta region, newly constructed home made up nearly 24% of all homes sold during the first quarter, an increase of over 37% over the same period last year. Fewer existing homes are currently coming on the market as more homeowners, wary of entering the current competitive home buying market, opt to stay put. As a result, newly constructed homes make up a larger percentage of the homes available for purchase. In addition to the obvious benefits of buying a newly built home such as increased energy efficiency and modern layouts, many home buyers prefer new construction because they will not have to engage in bidding wars now common on existing homes on the market in the Atlanta area.
Buying a new home in Atlanta or anywhere else in Georgia? Need to refi an existing home mortgage loan? Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.481.0052.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.