The pace of home sales in the Atlanta metro slowed in July as buyers took a breather amid increased inventory and anticipation of interest-rate cuts later this year, Georgia MLS said. 

Home sales fell 8% month over month and 4.5% year over year to 5,147 transactions, GAMLS said in its 12-county Housing Market Snapshot. Sales volume fell 11.3% month over month and 5.9% year over year to $2.61 billion. 

“The market is adjusting from a period of rapid growth to one of slower, steadier activity,” GAMLS said. “If interest rates decline, we could see a renewed push from buyers before year-end, but for now, conditions favor balance over competition.” 

The median sales price was $415,000 in July — flat with June and down 0.7% from $417,950 in July 2024. 

New listings slid 2.3% month over month and rose 8.4% year over year to 9,360, while active listings were up 0.4% month over month and 32.7% year over year, at 22,671. 

“Rising inventory levels are allowing buyers to pause and shop more deliberately,” GAMLS said. “Higher mortgage rates are also playing a major role — some buyers are waiting to see if the Federal Reserve lowers rates later this year.  

“A quarter- to half-point drop could spur a late-season surge, though rates are unlikely to fall below 6% any time soon. Economic uncertainty, including tariffs, is also keeping some buyers on the sidelines.”