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VERIFY: Is Atlanta still a seller's market?

As interest rates go up, many are asking: Is the housing market shifting?

ATLANTA — Buying a home is not easy in Atlanta right now. High prices are the norm since the pandemic started.

As interest rates go up, many are asking: Is the housing market shifting?

11Alive investigator Kristin Crowley dug through new data and went to the experts to verify your questions. 

One 11Alive viewer wants to know: Are we still in a seller's market? 

The sources

Professor Black said we are still seeing demand for homes higher than the number available.

The Answer 

So we can verify that yes, it's still a seller's market in Atlanta but prices are shifting down slightly.

This is true.

What we found 

According to Redfin's data center, the median sale price for a home in Atlanta in June of this year hit $397,000.

That's $59,000  higher than the same time last year.

So, prices are still going up. Interest rates are going up now too.

Black added that's not changing the market very much.

"It's still pretty strong. I mean, it was so crazy strong that even if you back off a little bit on it– it's still a strong market," Black said. "The fact that we haven't seen really significant changes in the market due to interest rates, that could change in the future."

 

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