The average 30-year fixed mortgage rate climbed to 6.44%. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

Atlanta also ranked fifth in the U.S. for active inventory, which surged 40% year over year.

The National Association of REALTORS® and Florida REALTORS® are accepting donations to provide disaster relief.  

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At the same time, days on market and housing inventory both rose.

The amount a homebuyer needs to earn to afford a median priced starter home is down 0.4% from last year, marking the first annual decline since August 2020.

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

The founder and CEO of Engel & Völkers Atlanta was the No. 1 Alliance agent for 2023 sales volume and transaction sides. 

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®. 

Mortgage rates have been dropping in recent weeks in anticipation of the Fed’s move.

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

The expectation of a rate cut this week, and the potential for more later in the year, has already moved mortgage rates lower.

Rate introduced its Spanish-language mortgage process in 2022.

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