The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

The city also ranked No. 5 in the U.S. for active inventory, according to the latest RE/MAX National Housing Report.    

At a time of year when the real estate market typically experiences seasonal declines, this fall is bringing just the opposite.

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.

Specifically, prices rose 4.3% annually after growing by 4.7% in June. 

The pace of transactions was down monthly and yearly, according to the Georgia MLS. 

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

Closed sales rose 7.1% year over year to 7,147 transactions, according to the most recent RE/MAX National Housing Report. 

Competition in the housing market is expected to reignite as falling mortgage rates breathe new life into buyers, according to Zillow’s latest report. 

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

The median sales price, meanwhile, was down month over month and up year over year. 

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

There are plenty of ways to upgrade a home without knocking down walls or hiring a whole construction crew.

The city moved up one spot from its May ranking, despite a significant drop in sales, according to RE/MAX.