Is Atlanta Low on Houses?

According to a study done by Metrostudy Inc. the Atlanta housing market could run out of new inventory as early as mid 2010. About 14,000 new homes were sold in the metro Atlanta area in 2009, bringing the new home inventory down from 23,046 units to 13,438. There is no longer an oversupply of new houses and if demand stays steady, we could be seeing an undersupply of new homes rather soon.

So what is the answer to this problem? Builders need to begin building again, which is precisely what has been happening at Bowen Family Homes.   The Atlanta Business Chronicle recently spoke with Bowen’s Chief Financial Officer, Steve Palmer who revealed the details of the building plan for the next year.

“This time last year, we had 195 new homes,” Palmer said. “Today we have 50.”

In order to increase inventory and better meet buyer demand, construction has begun on 43 new homes across the metro Atlanta area, by the end of the year we hope to have constructed 150 new homes. That is 120 more homes than we constructed in 2009. So make sure to be on the lookout for all the presale opportunities that will be heading your way.

To read the full article on Bowen Family Homes, visit the Chronicle’s Web site. For more information about any of our new home communities, check out the Bowen Family Homes YouTube, become a fan on Facebook or follow along on Twitter @BowenFamilyHome.