Redfin points to surge in prices, new luxury listings and a boost in sales as affluent homebuyers and sellers show increased activity

Days on market declined, as did housing inventory, according to the latest Atlanta Housing Scorecard.

In 2022, the most recent year for which Census data is available, 327,000 people moved to Georgia, while 252,000 people left. 

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

Notably, renovators are less likely than they were a year ago to undergo kitchen modifications for the purpose of improving the home’s resale value.

In Atlanta, the number of coworking spaces rose quarter over quarter in Q4 2023, and the city’s total square footage of coworking space rose as well. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

Nearly all millennials — 93% — say a volatile market is to blame for wrecking homebuying plans, with another 76% saying they expect the market to get worse before they’re able to make a purchase themselves.

CoreLogic expects prices to continue to grow through the year.

The pace of sales, however, continued to slow on a yearly as well as a monthly basis. 

How will our homes evolve in the new year?

The pace of home sales, however, fell, Georgia MLS reported. 

At the same time, days on market remained flat, at 43.

RentCafe analyzed apartment sizes in ZIP codes across the country to determine which areas give the typical renter the most bang for their buck.