Atlanta has seen a drop in the number of home sales as of August 2018. According to a recent report, the number of home sales declined by 9.7% from August of 2017.
"The median price of a home sold last month was $268,000. That is up 8.1% from a year ago — more than twice as fast as average incomes have been rising," according to National Mortgage News.
"The number of sales fell 14% from July to August. A slower market is normal in late summer, when school is back in session and not as many people move. However, in an expanding economy, year over year sales are typically up."
The year over year increase is reportedly related to the the number of homes being listed for sale. According to NMN, there is plenty of power for sellers at the moment with buyers having to outbid each other.
The publication also believes that there is a high turnover rate with competitive prices enticing buyers to flip their home soon after purchasing it.
To learn more about Atlanta's home sales for August 2018, click on the image above.