Economists, realtors disagree on future of Atlantas housing market [Video]

SMYRNA, Ga. (Atlanta News First) – The Atlanta real estate market has been scalding hot for years. However, some economists say metro Atlanta homes are overpriced, and a correction could be coming.

Economists with Florida International University, Florida Atlantic University, and the American Enterprise Institute say Atlanta’s home buyers are paying a 42% premium on their homes, and the market might already be softening.

Josh Pitre has sold homes in Atlanta for 16 years, and the news has him raising an eyebrow.

“As you drove into the neighborhood today, how many for sale signs did you see?” Pitre asked. “Not one.”

His experience on the ground has him believing prices will continue to rise, but he has seen some downward trends outside the beltline in North Georgia.

“We are seeing a little bit of price reduction in the mountain area, but we’re not seeing that in Atlanta,” Pitre said.

Some Sun Belt cities, like Austin and New Orleans, have already seen home …