No doubt now, the brakes are engaged: the metro Atlanta housing market has continued to slow, as higher mortgage rates depress prices and sales.
The median sale price in October $379,455, a slight decline from the month before, and a nearly 8% drop since June, according to the Georgia Multiple Listing Service, which tracks sales in a 12-county area centered on the city of Atlanta.
“There have been four straight months of price declines,” said John Ryan, the group’s chief marketing officer. “Historically, we usually see a seasonal decline, but the decline is accelerated from what we’ve seen in the past.”
