0
0
0

RE/MAX: Atlanta housing market takes a pause in September 

by John Yellig

Atlanta’s housing market took something of a breather in September, as days on market rose 10% from August, and months supply of inventory jumped 16.7%, according to RE/MAX’s National Housing Report. 

The number of closed sales slid 10.7% month over month, while active inventory rose 0.1% to 12,302. Median sales prices slid 0.1% to $335,500, but that’s still up 16.5% from September 2020. 

Nationally, closed transactions were down 7% from August, compared to an average pre-pandemic decline of 15.3% between 2015 and 2019.  

The median sales price clocked in at $329,000, a 1.1% monthly decline, compared to an average drop of 3.4%. Year over year, the median sales price was up 12.5%. Home sellers have enjoyed annual increases in sales prices for 33 consecutive months, RE/MAX said in a release. 

At the same time, the 4.9% month-over-month decline in active inventory was more than double the average August-September decline of 2.3%. Through September, June and July were the only months in which the national active inventory did not decline on a monthly basis. 

“Affordability remains a challenge in most metros, where tight inventory continues to push prices,” RE/MAX LLC President Nick Bailey said. “Homebuilders are trying to fill the gap — especially with multi-family home construction — but many of them are held up by shortages in labor and materials. That said, the market’s still active  just not quite at the pace we saw earlier this year.” 

Read More Related to This Post

Join the conversation

New Subscribe