The housing market, while still outperforming 2020 with increases in units sold and sales volume, is showing signs of cooling off by key indicators over the past 3 months.

• Both the 29 county Atlanta Metropolitan Statistical Area and the 12 county Atlanta core area have shown decreases in units sold and under contract listings for 3 straight months, and for the first time in 5 months, sales volume has declined by 2.7% in the MSA and by 2.5% in the core counties.

• Inventory levels remain extremely low with Active listings of residential properties off by 59% compared to May of 2020. The low level of housing supply has driven up the Median Sales Price by 24% in the Atlanta MSA for the first 5 months of 2021.

The Median Sales Price in the MSA has increased from $275,000 in January to $341,500 in May.