Median Atlanta Area Home Sales Prices Reaches New Benchmark in May

The median sales price of a home in the Atlanta area hit $400,000 for the first time in May, according to a recent report. Prices continued to rise due to low inventory, despite many would-be buyers being priced out of the market due to escalating home prices and increasing home mortgage interest rates. Lumber costs, however, have started to decline in recent weeks, leading some Atlanta real estate market analysts to speculate that rapid price increases in the price of newly constructed home may slow in the coming months.

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