It’s hard to keep up with the housing market in Georgia. Reality television shows about investors hurriedly buying, renovating and selling old housing stock in Atlanta and Savannah are evidence of how development is in the Peach State and has been for the last decade.
One of Atlanta’s largest home builders did have difficulty keeping up, as it had a backlog of more than 100 homes last month. This was reported as the company was sold to one of the nation’s largest home builders as part of its expansion into new markets.
“Atlanta was the largest U.S. housing market where we did not operate,” said the chief executive officer of the purchasing company. “We believe joining with [this new company] is the ideal way for us to enter and grow quickly in this robust market.”
The national brand acquired the local firm’s backlog as well as its properties and around 900 other lots. This may lead to hundreds of new units hitting the market for families later this year and into the next. This move will hopefully relieve some of the pressure on Atlanta-area builders to keep up with demand, as larger and well financed companies are often able to move faster through requirements like land zoning, building inspections and other vital requirements of safe and affordable housing.
People looking to buy a home for themselves or their families, especially if they are first-time buyers, may need the help of an attorney. Legal representation often helps check all the boxes, from deposits and home inspections to closing and escrow amounts.