ATLANTA—Especially hard hit in the Great Recession, Atlanta is not just making a comeback, but it's posting strong growth on almost every front. Atlanta may be a cyclical market, but its recent run is turning investors' heads.

Consider just a few of the metrics: Atlanta is among the 10 most promising markets, thanks in part to a homebuilding comeback, according to Pricewaterhouse Coopers' Emerging Trends in Real Estate 2015. A diverse economy, low cost of doing business and affordable housing are among the drivers.

“The Atlanta market is attractive to institutional and local investors and developers,” PwC's report reveals. “Local market participants assess the availability of capital and strong local development community as two of the best attributes of the Atlanta market.”