A rise in new listings is giving buyer’s in the new year more homes to choose from, according to a new report from Redfin.

The median-sales price slid from $425,600 in October to $402,600 last month. 

The year-over-year increase of 6.1% is the greatest since June 2021, according to the association. 

Atlanta is the 30th-priciest rental market in the country, according to Zumper’s November National Rent Report.

September pending home sales rose 7.4% to their highest level since March, according to the National Association of REALTORS®.

While the average monthly housing payment in the U.S. fell to its lowest level since the start of the year, it isn’t improving sales, as potential buyers are holding out for lower mortgage rates.

The combination of rising inventory and price reductions in Atlanta and nationwide is creating a more buyer-friendly market.

With the spring market right around the corner, the U.S. housing supply finally got a boost. 

Days on market increased, while housing starts decreased, according to the May edition of the Atlanta Housing Scorecard.

Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.

In Atlanta, 36 homes sold for at least $100,000 over asking price, up from four in 2021.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

Days on market for homes sold in Atlanta fell to 52 from 64 a year earlier.

December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.

“Fewer homes are selling because of a lack of supply, while demand remains strong.” — Redfin chief economist Daryl Fairweather