Marketwatch June 5, 2020

Tune in to our SECOND North Georgia Intelligence Roundtable Thursday, June 18th at 4:00. We have an excellent panel to discuss CURRENT North Georgia Dynamics, Residential, Commercial and Acreage real estate along with insight on EMERGING TRENDS and an audience fed Q & A.

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You are invited to a Zoom webinar.

When: Jun 18, 2020 04:00 PM Eastern Time (US and Canada)

Topic: Norton Native Intelligence 2.0

Register in advance for this webinar:

https://us02web.zoom.us/webinar/register/WN_z6cD6gc_TdW3u64SKTSLOA

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NORTH GEORGIA DEEPER DIVE

We have drilled deep into the mountains of data collected by Norton Native Intelligence™ and have begun to chart our region, “BC” (Before Covid) and “AC” (After Covid), to better understand the effects of the contagions on the residential real estate market. Note: Data as of June 1, 2020 including Banks, Barrow, Cherokee, Dawson, Forsyth, Franklin, Gwinnett, Habersham, Hall, Jackson, Lumpkin, Pickens, Rabun, Stephens, Walton and White Counties. 

***Sales Volume - closings decreased in April and May and slightly upward movement on months of supply.***

***Higher and lowest price home sales show no change with the middle ranges off slightly April and May. March closings were a seven month high. ***

***Total listings dropped in May with super tight inventory (green) below $250,000.***

***Months of Supply overall still remains below "3" indicate market strength and demand. ***

TECH TREND BLEEDS MEGA-CITIES, BOOSTS HEARTLAND

The top U.S. mega-cities boasting the highest economic growth and biggest talent-attracting companies may start losing people to other cities, thanks to the remote-work wave brought on by the corona virus.  With more people finding long-term flexibility to work from anywhere, they have less reason to live in the most expensive cities like New York, San Francisco, Los Angeles, and Seattle.

That could create a wave of rising-star cities that have already begun to attract people looking for a better quality of life. Big Tech companies that have attracted hundreds of thousands of highly educated, high-paid workers to coastal job hubs are leading the shift to a more remote, dispersed workforce. And many workers are eager to take advantage of the flexibility.

Reality check: The shift from major tech hubs to other places will not lead to a seismic demographic shift overnight, and the workers eager to find affordable housing and more space are still likely to choose other sizable cities with strong economies and amenities.

• When the economy starts to recovery, the largest employers are still going to dominate hiring.
• "Maybe they’ll decide that their next office expansion isn’t in New York City, It’s in Dallas. But it will probably be within the top 20 markets,” said Suzanne Mulvee, Senior Vice President of Research and Strategy at GID Real Estate Investments, during an Urban Land Institute webinar.

Still, a redistribution of sought-after knowledge workers beyond the biggest 5-10 cities will go a long way in lifting up regions that have been left behind.

SOURCE: AXIOS

WE ARE N THIS TOGETHER…

 NORTON NATIVE INTELLIGENCE

For More Information email info@gonorton.com