By the Numbers
The median existing-home price for all housing types in August was $389,500, a 7.7% rise from the year before.
New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.
A continuing combination of increased interest rates, supply-chain disruptions and high home prices has sapped homebuilder sentiment every month this year.
Atlanta’s urban core saw more multifamily units delivered over the last 10 years than any city in the U.S., a StorageCafe study finds.
Mortgage applications declined 1.2% during the week ended Sept. 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
The median price first topped $400,000 in May, when it rose 3.6% from April to hit $409,400. It rose again in June to $411,375 before beginning its retreat last month.
Nationally, builder confidence posted a steep decline.
In the second quarter, Gwinnett County was once again head and shoulders above its neighbors in terms of housing starts, closings and lot deliveries, according to a new report.
The modest 1% decline could indicate the current housing cycle is reaching a bottom as mortgage rates recede from their recent high, the National Association of REALTORS® said.
The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.