Homebuyer competition is driving up prices, as inventory constraints continue to plague the real estate market. 

Homes affordable to middle-income buyers — defined as households earning up to $75,000 — fall in the $256,000-to-$320,000 range. But of the over one million U.S. homes on the market at the end of April, less than a quarter fell within that price range.

Spring selling season returned in full force, as home sales bounced back following a slide in April, Georgia MLS reported. 

Atlanta’s listings grew 25.4% from last year.

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

The number of Atlanta sellers making concessions to buyers is up from last year.

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

A shortage of existing inventory continues to drive buyers to new construction. 

At the same time, days on market slid to 11 days from 18 a year ago, indicating “homes are selling even faster than before,” the group’s president said. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Atlanta’s April average home value rose while pending sales fell from March.

Homebuyers in their 40s and younger are still planning to buy homes, even though most believe the market favors homesellers.

A recent Rentcafe study used MLS data from 200 U.S. cities to determine which city offers the most square footage for $1,500 per month. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported.