Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.

The sale represents the New York-based firm’s almost complete exit of the single-family rental homes it purchased in the wake of the financial crisis.

Housing markets across the country saw new listings growth in June, as the median list price hit yet another all-time high, and Atlanta was no exception. 

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.

The acquisition of the Smyrna development comes on the heels of the investor’s recent sale of the 312-unit River Crossing at Roswell community.

The median age of construction workers is 41, the same as a typical worker in the national labor force, according to the National Association of Home Builders’ analysis of the most recent 2019 American Community Survey data.

“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun

In Atlanta, the index rose 1.7% month over month and 12.3% year over year. The monthly increase was slightly down from the 1.8% rise recorded in March.

Suburban Jungle provides pre-search consultation services to homebuyers to help them find the ideal neighborhood or suburb for their needs and match them with a vetted real estate agent.

In light of the increasing number of natural disasters in recent years, the foundation commemorated its 20th anniversary by launching Hope Rising, “a campaign designed to ensure the foundation can respond to disasters as quickly and effectively as possible.”

The real estate investment and land asset-management company has identified 17 near-term development opportunities and is in advanced negotiations to develop build-to-rent communities with about 2,500 units across the country.

As social activities return to pre-pandemic levels over the summer and beyond, the Atlanta real estate law firm will team up with the Georgia Association of Realtors, the 400 North Association of Realtors, the Cobb Association of Realtors and others in various events.

Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.

The company, T.D. Jakes Real Estate Ventures, agreed to purchase the land for an undisclosed amount after almost two months of negotiations with the Local Redevelopment Authority Board of Fort McPherson.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported. 

TerraCap Management LLC acquired the property, 23 Thirty Cobb Apartments, in August 2018.