The rate of home-price appreciation slowed to just over half the rate of inflation in July, Cotality noted. 

The median sales price grew slightly compared to last year, hitting $405,450. However, that still marks a 2.3% decrease from July.

Atlanta’s high rental potential and relatively low prices make it a perfect choice for residential investors looking for comfy margins, Cotality said.

Despite the decrease in borrowing costs, the Mortgage Bankers Association’s Market Composite Index showed a decrease in mortgage applications in the week ended Aug. 29. 

By the end of the year, Atlanta will have added a total of 17,512 units.

At the same time, existing-home sales and housing starts fell, while days on market jumped.

Despite a slowdown in single-family construction activity, newly built homes are becoming increasingly accessible to American buyers, in terms of both availability and affordability. According to data from the New-Construction Insights report released by Realtor.com, in the second quarter

Signed contracts declined despite lower interest rates and improved affordability and inventory, the National Association of REALTORS® said.   

The pace of home-price appreciation declined to its slowest pace in two years, according to the S&P Cotality Case-Shiller U.S. National Home Price Index. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

Nationally, home sales rose 0.6% year over year but slid 0.7% month over month, RE/MAX said. 

The association said the housing market is making a definitive swing back in the direction of the buyer thanks to wage growth, slowing home-price gains and rising inventory. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

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. 

NAR’s report — which surveyed nearly 5,000 Realtor members — also found that the typical agent took on 10 transactions in 2024, the same as a year prior.