A recent report by Metrostudy, a national housing intelligence and consulting firm, found that the Atlanta housing market could see an increase in demand after expected positive employment figures are released.

New jobs in Atlanta through March 2012 increased by 27,400 portions. “Forecasters are predicting net employment gains in Atlanta for 2012 above 30,000,” said Eugene James, director of Metrostudy’s Atlanta Region.

Atlanta saw a 38.4 percent increase in quarterly starts from last year, and new home inventory has been depleted, down 21 percent year over year and down 83% percent from four years ago. “Over a year ago, we said that despite record low mortgage rates, as long as employment numbers remain dreadful, many potential homebuyers will remain fearful of buying a home until signs of a stronger economy emerge,” said James. “Now, positive employment figures should make the headlines soon which could boost confidence and help sell more houses in 2012.”

Housing inventory is down 33 percent year over year in South Atlanta, and is down 16 percent year over year in North Atlanta. “North Atlanta’s finished vacant housing units continue to decline to new lows (5.2 Months Supply in 1Q12 compared to 6.7 in 1Q11), while South Atlanta’s 6.2 Months Supply in 1Q12 is better than last year’s 7.6, but it’s still very high,” said James.

“We said last quarter that despite record low mortgage rates, as long as employment numbers remain dreadful many potential homebuyers will remain fearful of buying a home until signs of a stronger economy emerge,” said James. “Now, positive employment figures should make the headlines soon which could boost confidence and help sell more houses in 2012.”

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