Metro Atlanta Ranked Among Top Five Markets for Active Housing Inventory

^{Last month, Metro Atlanta ranked fourth in the nation for the number of homes listed for sale.}

A recent report has highlighted Metro Atlanta as one of the leading markets nationwide in terms of housing supply. Over the past few months, the area has experienced a significant influx of new home listings, bolstering its position among the top five regions with ample housing inventory in the United States.

According to data from RE/MAX, Metro Atlanta ranked fourth in active housing inventory last month, boasting 21,959 listings in June. This marked a notable increase of 1,900 homes or 9.5% from the previous month and a substantial rise of over 50% from June 2023 when there were 14,462 listings. The metro area’s supply was outranked only by Miami, Houston, and New York City in this regard.

This surge in housing availability in Metro Atlanta reflects a broader national trend. Across the U.S., active inventory grew by 6.7% from May to June and surged by 38.1% compared to June of the previous year, according to the report by RE/MAX.

Despite the increase in housing supply, home prices in Metro Atlanta have not seen a corresponding decline. In fact, the median price of homes sold in the metro area rose by $15,000 from May to June, a 3.7% increase, and by $20,000 or 5% compared to June 2023. Nationally, median sales prices also saw an uptick of 1.4% month over month and 4.6% year over year.

In response to market conditions, some local home sellers in Metro Atlanta adjusted their asking prices downward in June to attract potential buyers. Approximately one-third of listings in the area experienced a price reduction last month, as reported by Zillow Group Inc.

While Metro Atlanta’s active housing supply has returned to pre-pandemic levels as of May, national inventory remains lower compared to the late 2010s, according to Freddie Mac’s market forecast. Despite increases in existing and new home inventory nationally, Freddie Mac anticipates continued upward pressure on home prices into next year due to strong demand fundamentals in the housing market.

In summary, Metro Atlanta’s robust increase in housing supply underscores a broader recovery trend in the U.S. real estate market, though challenges persist in balancing supply with continued demand.