The report notes that low mortgage rates continue to drive buyers into the market, and that new construction remains a popular option for them.
Home sales were up year-over-year by 0.3 percent in October, to 7,754, while the median sales price increased 6 percent over the same time period to $249,000.
The number of days on the market increased to 46, up four days from a year ago, the report notes. The number of months of available supply dropped to three in October, down 0.4 from a year ago.
“Buyers and sellers are both winning in greater Atlanta’s current housing market,” said Jeff LaGrange, vice president of RE/MAX’s southeast region. “Sellers have built significant equity in their homes, while buyers are benefitting from low mortgage rates.”
Torrence Ford of RE/MAX Premier said he’s looking to builders to help fill the gap. “New construction has finally been built, providing a release to the housing shortage dilemma,” he said.
LaGrange added: “New construction continues to be a popular option for buyers facing a limited housing selection. Georgia’s strong economy and low unemployment continue to bolster the local housing market as well.”