Housing inventory in the Atlanta area, meanwhile, remained significantly below year-ago levels in April.

The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.

The survey showed that 86% of dog owners said dog-friendly features — such as having a dog door or access to a dog park — are a large part of their decision-making process, and 84% are willing to spend more for these features.

In Atlanta, the median sales price of a single-family home jumped 18.4% on a year-over-year basis to $279,300, the National Association Realtors said, citing its quarterly report. 

The property is in the Bankhead/Historic Westin Heights neighborhood and is along a planned segment of the Atlanta BeltLine Westside Trail.

The housing market hit records last month as home prices reached an all-time high and homes sold faster than ever. 

Listing keywords associated with families and children, like community pools, nearby parks and cul-de-sacs, led to both faster-than-expected sales and higher premiums.

The 19-hole Oaks Golf Course will be replaced with 142 single-family houses, 190 townhomes, 360 apartments and 143,000 square feet of retail space.

The employment numbers for March were revised down as well. The most recent data indicate a 770,000 increase in jobs for the month, compared to the previously reported increase of 916,000.

Lumber prices have tripled over the past 12 months, driving up the price of the average new single-family home by $35,872. NAHB hopes to alleviate the situation by meeting with the White House, lawmakers and others.

Atlanta has been ranked as the fifth moving destination by Penske Truck Rental in its 11th annual Top Moving Destinations list.

The luxury multifamily development is the residential component of the Marketplace at Terrell Mill mixed-use project, which is situated near I-75 and Truist Park.

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan.

Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Atlanta.

Transcendent Electra, a partnership between Transcendent Investment Management and Electra America, has $496 million of properties in contract process and closing and another $1 billion in the pipeline. 

The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.