Posted 4/10/2024, 12:43:43 PM
Atlanta Home Sales Jump 20% in March But Limited Supply and High Mortgage Rates Persist
- Metro Atlanta home sales jumped 20% from February to March, with 4,843 homes sold and median price of $402,000
- Active listings rose 6% but still only represent less than 3 months of sales, far below balanced market of 6 months
- Median home price in March up 6% year-over-year, slowing from 2021-2022 double-digit growth
- Mortgage rates have slid from autumn highs but remain around 6.8%, crimping buyers' purchasing power
- Number of sellers still down as some feel "locked-in" afraid to sell and buy with much higher rates