The Brief
- Metro Atlanta home prices dropped 3.2% year over year, with the city of Atlanta seeing an even larger 8% decline, according to Redfin—ranking among the steepest drops in the nation.
- Affordability remains a challenge, as the median home price is $390,000 while the median income in the region is under $90,000; buyers need around $120,000 annually to afford a typical home.
- Nearly 1 in 5 home-purchase agreements in metro Atlanta were canceled in June, the third-highest rate in the U.S., driven by factors like high insurance costs and abundant new construction.
ATLANTA – A new report from Redfin shows that home prices in metro Atlanta have dropped 3.2% year over year — the fourth-largest decline among major U.S. metros.
McAfee Total ProtectionActivate your PC protection with McAfee Antivirus SolutionsMcAfee |
The drop was even steeper in the city of Atlanta itself, where prices fell by more than 8%, according to the report.…