ATLANTA — It may not be a great time to be buying or selling a house in the metro Atlanta area, as sales of existing homes continue to decline.
New numbers show that home sales locally were down 7.4 percent from September to October, and off 14 percent from a year ago.
John Ryan with the Georgia multiple listing service says the reason is “a constant issue of availability and affordability.”
The average metro Atlanta home is now going for $399 thousand. That price is coupled with interest rates at 8 percent, and buyers are staying away.
Sellers on the other hand, are sitting on their homes because of high interest rates on a new place.
Ryan sees no end to high home prices and interest rates anytime soon.
The typical busy summer home buying season ended sooner than expected this year.
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