Atlanta ranked No. 4 among major U.S. cities for the number of home sales in June, up one spot from May, despite a significant drop in transactions, according to the most recent RE/MAX National Housing Report.  

Closed sales slid 14.3% annually to 6,600 transactions from 7,701 in June 2023. Month over month, they were down 14.5% from 7,723 in May. New York, Chicago and Houston took the top three spots, respectively.  

Atlanta ranked fourth in the U.S. for active inventory, with 21,959 active listings, which represented a 51.8% year-over-year increase and a 9.5% monthly increase. Miami, Houston and New York took the top three spots. Atlanta ranked fifth behind New York, Houston, Chicago and Washington, D.C., for new listings, with a 15.6% annual rise to 12,255 listings.

The median price of homes sold in Atlanta in June rose 3.7% month over month and 5% year over year to $420,000. Houses spent an average of 36 days on the market in June, up 6.3% from 34 in May and 17.1% from 31 in June 2023. Atlanta’s housing inventory jumped 10.9% month over month and 59% year over year to 2.8 months.  

“It’s good to see inventory levels rising, as more listings represent more options for buyers,” RE/MAX President Amy Lessinger said in a press release. “Given the decline in sales, it’s evident that buyers are sensitive to interest rates, highlighting the need for lower rates to stimulate significant growth in market activity.”