Metro Atlanta's housing market has seen an increased amount of growth that can be attributed to job growth and low mortgage rates, according to a report. The median price of a home sold in the region for August of 2019 has topped $250,308 which is up a whopping 6,5% from August 2018.
"At least in part, the price increase reflects the interplay between supply and demand," according to National Mortgage News.
"In general, the number of home listings in a balanced, healthy market should be the equivalent of the average number of homes sold over a six-month period."
Atlanta is among the top markets when it comes to fasted growing home prices. Other cities include: Phoenix, Las Vegas, Charlotte and Tampa.
"In Atlanta, that pickup is already visible in the unusually large number of pending sales — that is, deals that have been reached but aren't yet final," according to NMN.
"Typically, contracts between buyers and sellers convert to closing within two months. But many sellers have been taken aback by how quickly their asking prices have been met and find themselves hesitating, said Bruce Ailion, president of the Cobb Association of Realtors."
To learn more about metro Atlanta's increased home prices click on the image above.