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REAL ESTATE
Metro Atlanta homebuyers searching for new houses as demand slows
Data: CoreLogic 2024; Chart: Jacque Schrag/AxiosHomebuyers continue to seek out new construction homes over existing houses in what's looking like another year of sluggish home sales nationwide, according to a recent CoreLogic report.Why it matters: As homeowners shy away from moving, some shoppers have sought more options or better deals on new construction, particularly in the Sun Belt.Although that juiced new home sales in 2023, the houses represent a relatively small part of the overall market.New U.S. home sales fell 7.7% in April from a year earlier, per census data.The big picture: Elevated mortgage rates are dampening the appeal, and affordability of home buying for many.Pending sales of existing U.S. homes plunged in April to lows not seen since the pandemic shutdowns, Axios' Courtenay Brown reports.That's tough news for people listing their homes in June, when researchers say sellers could make the most profit.What they're saying: "There is no real indication of widespread price drops or a substantial decline in interest rates," CoreLogic economist Thomas Malone wrote in the report, noting that strong rental demand could spur more investor home purchases.
Opinion: Then and now, Spalding Drive farmhouse to Cortland 1000 Spalding
A farmhouse once sat at 1000 Spalding Drive in Sandy Springs, where Peachtree Dunwoody Road meets Spalding Drive. In 1995 this became the location of Spalding Gables Apartments, which is now Cortland 1000 Spalding apartment homes. Lynne Byrd, on a mission to document all older homes and buildings in Dunwoody and parts of Sandy Springs in 1994, took photographs of the home, which she identified as a circa 1900 farmhouse.
Fate of Student Housing Development Near KSU Remains Uncertain
MARIETTA — On Tuesday, the Cobb Planning Commission sent a proposed five-story student housing development near Kennesaw State University to the Board of Commissioners without issuing a recommendation. The commission initially voted 3-2 to hold the request until August, with Chairman Stephen Vault and Commissioner Fred Beloin voting no. That vote came after the board split over a motion to deny the request, with Vault and commissioners David Anderson and...
Stonemont Financial Group Secures Lease at Industrial Park in Chamblee, GA
Stonemont Financial Group, a private real estate investment firm specializing. in industrial development, acquisitions and net lease investments, and its venture partner Seven Oaks. Company announced today that they have signed a 45,000-square-foot lease with Aramark. Refreshments at Chamblee International Logistics Park in Chamblee, Georgia, outside of Atlanta. The. lease...
Second Story at Broadstone Peachtree Corners: A Progressive Coworking Space
Second Story at Broadstone Peachtree Corners offers a unique coworking experience that blends work and leisure in a vibrant community setting. Developed by Alliance Residential Company, Second Story aims to meet the needs of modern professionals who seek flexible workspaces close to home. Vision and development. Alliance recognized the need...
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