Metro Atlanta home prices softened in October as fears of economic instability and a federal government shutdown spooked would-be buyers, experts say.
Homes were on the market longer this year, and the number of active listings has surged as buyers sit on the sidelines, fretting about the economy and feeling unmotivated by mortgage rates, which have come down but remain higher than a few years ago.
As demand has slowed, the median sales price dropped to $390,000 in October, down 2.4% from the same month a year ago, according to Georgia Multiple Listing Service data for the 12-county metro Atlanta area. But, experts said, drastic price drops are not likely ahead…