The National Association of REALTORS® named Atlanta the No. 1 market to watch in 2023, with particular emphasis on economic factors and the city’s increasingly significant exposure to the information industry.
Atlanta was the only market in the survey of 179 U.S. metros to meet all 10 of the criteria NAR used in its analysis, “On the Horizon: Markets to Watch in 2023 and Beyond.”
“The Atlanta metro area continues to be more affordable than most areas across the country, with more than 20% of the renters able to afford to buy the typical home in the area,” NAR said. “The job market is robust, with many major tech companies from the West Coast opening offices, such as Apple, Microsoft and Visa. As a result, the area experiences substantial migration gains and fast population growth.”
The 10 factors used in the analysis were:
- Better housing affordability than the national level.
- More renters who can afford to buy the median-priced home than at the national level.
- Stronger job growth than the national level.
- Faster growth of information industry jobs than at the national level.
- A higher share of the information industry in the local GDP.
- Migration gains.
- Share of workers teleworking.
- A faster-growing population than the national average.
- Faster growth of active inventory than at the national level.
- A smaller housing shortage than at the national level.
Here’s the list’s top 10 metros to watch:
- Atlanta-Sandy Springs-Marietta.
- Raleigh, N.C.
- Dallas-Fort Worth-Arlington, Texas.
- Fayetteville-Springdale-Rogers, Arkansas-Missouri.
- Greenville-Anderson-Mauldin, S.C.
- Charleston-North Charleston, S.C.
- Huntsville, Alabama.
- Jacksonville, Florida.
- San Antonio-New Braunfels, Texas.
- Knoxville, Tennessee.