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Is Atlanta's housing market cooling off soon?

The 11Alive Verify team asked the experts about Atlanta's real estate market.

ATLANTA — Buying a home in Atlanta has not been easy in recent months.

An 11Alive viewer asked our team if the housing market here is cooling off anytime soon?

Our team went to the experts to verify. 

THE QUESTION

Is Atlanta's housing market cooling off anytime soon?

THE ANSWER

Experts predict the housing market will not be calming down in the near future.

OUR SOURCES

  • The Atlanta Realtor's Association 
  • Joey Tucker, president of The Georgia Association of Realtors 

WHAT WE FOUND

The year 2021 marked a banner year for home sellers and continued to outpace 2020's figures, according to the Atlanta Realtors Association. 

The group said the median sales price in November last year hit $372,000, which is an increase of 21% from 2020. The average sales price went up 19% from the previous year.

But what about this year? 

"It is not cooling off," said Joey Tucker, president of the Georgia Association of Realtors.

Tucker said the threat of rising interest rates or the traditional lull during winter months is not a factor in 2022.

He said the struggle is real for buyers searching from homes right now.

"We're seeing multiple offers," he said. "We're seeing offers with no due diligence, no contingency. A lot of cash offers, no appraisal. The market is very strong in Atlanta right now."

The lack of new home construction is not helping buyers either, he said. 

So, we can verify, that for right now, the metro Atlanta real estate market does not appear to be cooling off.

If you see a claim or have a question you would like our team to verify, send it verify@11alive.com.

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