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This Week in Atlanta Real Estate: Unemployment hits 17-year low, homeowners are looking to move and more

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Georgia’s unemployment rate fell to its lowest point in 17 years, to 3.9 percent in July. The unemployment rate sat at 4.1 percent in June and 4.6 percent in July 2017. Georgia added 5,300 jobs last month with the biggest gains so far this year in trade, transportation and utilities and construction.

“Georgia, like the nation, is in a period of continued economic growth,” state Commissioner of Labor Mark Butler said. “We continue to set records in all the key metrics.”

In other real estate news:

  • Atlanta has the highest share of homeowners looking to move, according to ATTOM Data Solution’s Q2 2018 Pre-Mover Housing Index. The index is based on the ratio of homes with a “pre-mover” indicator to total single family homes and condos in an area.  Atlanta has an index of 119 (an index above 100 is above the national average and indicates an above-average ratio of homes that will be sold in the next three months). Wilmington, North Carolina topped the list at 206.
  • Atlanta City Council members are concerned about the billion-dollar public money commitment proposed to redevelop the Gulch and what the public will get in return. According to the Atlanta Journal-Constitution, councilmembers noted that they were not sure about the financial details and that information was received through a press release and not taken directly to the council. Developer CIM proposed a $3.5 billion to $5 billion development, which includes $900 million to $1.75 billion in public financing.
  • Atlanta-based brokerage Mark Spain Real Estate has opened up a new location in Nashville, its third location outside of Georgia. The company currently has five locations in Georgia and two locations in North Carolina. Check out our interview with Mark Spain to see how he has created a culture that helps propel his company forward.

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