Atlanta Home Prices Drop 2.5 Percent as Buyers Gain Ground in Competitive Market

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The median sale price for homes in Atlanta has decreased by 2.5% year over year, making it one of the top five U.S. metros with the largest declines, according to a report by Redfin. As of June, the median sale price stood at $397,000, but the rising mortgage rates and increased supply have contributed to a buyers' market, leading to sellers offering concessions. Despite these changes, many potential buyers still find homeownership out of reach, with a qualified household income of over $120,000 needed to afford the median home price, while the area's median income is approximately $90,000.