It’s been a groundbreaking time for new home construction — literally. The annual rate of new construction surged to 1.631 million units in May: the biggest leap in 33 years.

Transactions that do go through are typically seeing multiple offers, NAR Chief Economist Lawrence Yun said. 

A third consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index lends new evidence to claims that previous declines could be behind the market. 

Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market. 

At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100. 

Goldberg’s retirement comes after 30 years of service with NAR and four decades of real estate experience.

Atlanta’s robust residential, industrial and office sectors helped cement the city’s position as one of the busiest in the nation for new construction, according to StorageCafe. 

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

There are nearly 40% fewer homes for sale now than before the pandemic began

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. 

The Federal Reserve on Wednesday halted its streak of 10 consecutive rate hikes since March 2022.

The list recognizes the top 0.065% of more than 1.6 million licensed Realtors across the country based on 2022 data. 

Homes affordable to middle-income buyers — defined as households earning up to $75,000 — fall in the $256,000-to-$320,000 range. But of the over one million U.S. homes on the market at the end of April, less than a quarter fell within that price range.

Resonance Consultancy, which touts its proprietary analysis of a city’s “lovability,” noted Atlanta’s importance to the Civil Rights movement, as well as its growing population and ambitious urban renewal projects

The first quarter of 2023 shows some serious agent fluctuation at many of the country’s biggest brokerages.

These new homes are envisioned as “missing middle housing,” such as medium and large apartment buildings.