The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row. 

At the end of 2022, Atlanta had 1,834 build-to-rent units in operation, a 380% increase from the 382 available five years earlier, RentCafe said. 

Spring selling season returned in full force, as home sales bounced back following a slide in April, Georgia MLS reported. 

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

A shortage of existing inventory continues to drive buyers to new construction. 

At the same time, days on market slid to 11 days from 18 a year ago, indicating “homes are selling even faster than before,” the group’s president said. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Homebuyers in their 40s and younger are still planning to buy homes, even though most believe the market favors homesellers.

A recent Rentcafe study used MLS data from 200 U.S. cities to determine which city offers the most square footage for $1,500 per month. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

New listings of homes fell 8.7% compared to March and were down 18.4% versus April 2022, Georgia MLS said. 

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

The need for more space is common among all self-storage users: 40% of survey respondents listed this as their primary reason for renting storage space.