The Record · Atlanta Residential · 2025

Atlanta residential, 2025

Rates eased from 6.96% to 6.19% across 2025, the cheapest money in two years.

The market softened anyway, because supply built faster than the rate relief could pull demand.

Written and built by Jake Griffith. Period: January to December 2025
Compiled: October 2026, from the public series as they stood

30-year fixed, monthly average

6.19%▼

Open 6.96% · High 6.96% · Low 6.19%

Change -0.77 pts on the year

Metro ZHVI

$381,844▼

Open $392,153 · High $392,153 · Low $381,844

Change -2.6% on the year

Active inventory

30,384▲

Open 26,006 · High 34,140 · Low 25,953

Change +16.8% on the year

Months of supply

4.5▼

Open 5.2 · High 6.1 · Low 3.6

Change -0.70 on the year

Median sale price

$361,150▲

Open $358,267 · High $384,650 · Low $358,133

Change +0.8% on the year

Median days to pending

55▲

Open 50 · High 55 · Low 29

Change +5 days on the year

Sales count (nowcast)

6,789▲

Open 5,023 · High 8,205 · Low 5,023

Change +35.2% on the year

ZORI (rent)

$1,804▲

Open $1,769 · High $1,819 · Low $1,769

Change +2.0% on the year

Jump to01 · Rates and affordability 02 · Prices and valuations 03 · Inventory and supply 04 · Buyer and seller activity 05 · The month reads

01 · Rates and affordability

Rates and affordability

The year's rate path set the affordability math for every corridor file.

The 30-year fixed through 2025, against the long-run norm

30-year

FREDDIE MAC PMMS VIA FRED · UNITED STATES · JAN-DEC 2025 · MONTHLY AVERAGE, PERCENTConstruction is The Record's own. Freddie Mac Primary Mortgage Market Survey, series MORTGAGE30US.

How it got here

Opened at 6.96% and closed 6.19%, a move of -0.77 pts against the since-1971 norm of 7.68%.

The other side

The ten-year Treasury led the path, so the year's move was a base-rate move, not a widening spread.

In the corridor

Every hundred basis points on the 30-year reshaped the north-metro payment stack more than any price move did.

02 · Prices and valuations

Prices and valuations

Value drifted while the mix of what sold moved the headline median.

Metro and county home values through 2025

Metro

ZILLOW RESEARCH · ATLANTA METRO AND COUNTIES · JAN-DEC 2025 · ZHVI, MID-TIER, $Construction is The Record's own. Zillow Research ZHVI, metro and county, mid-tier seasonally adjusted.

How it got here

The metro ZHVI ran from $392,153 to $381,844, a change of -2.6% on the year.

The other side

Typical value and the median sale price can diverge: a richer mix of closings lifts the median even when the index drifts.

In the corridor

Fulton's typical value held near $419K, above the metro, the corridor's premium band.

03 · Inventory and supply

Inventory and supply

Supply is where the year broke from the prior two.

Active inventory through 2025

Active inventory

ZILLOW RESEARCH · ATLANTA METRO · JAN-DEC 2025 · ACTIVE LISTINGS, COUNTConstruction is The Record's own. Zillow Research active for-sale inventory, metro.

How it got here

Active listings ran from 26,006 to 30,384, a change of +16.8% across the year.

The other side

The build came from accumulation, homes listing at a normal pace and clearing slowly, not from a flood of new listings.

In the corridor

More selection and more time is a buyer's condition; for a seller it is the year the default advantage narrowed.

04 · Buyer and seller activity

Buyer and seller activity

The pace carried the year's negotiation, not the asking price.

Median days to pending through 2025

Days to pending

ZILLOW RESEARCH · ATLANTA METRO · JAN-DEC 2025 · MEDIAN DAYS TO PENDINGConstruction is The Record's own. Zillow Research median days to pending, metro.

How it got here

Days to pending ran from 50 to 55, a change of +5 days on the year.

The other side

Clearing shifted to concession and days rather than a cut at the list price, which the price-cut share tracked.

In the corridor

A listing that would have cleared in a weekend now waits, so pricing to the corridor's pace matters more than the asking headline.

05 · The month reads

The month reads

Each month of 2025, its one-sentence read and three figures, linking to the full page: twelve months, January to December.

JanuarySnapshotThe year opened with the thirty-year fixed above 6.95 percent, the slowest days-to-pending reading in this page's four-month window, and an investor segment quietly stepping back even as refinance applications were being rejected at a 42 percent clip;so January 2025 closes the record's opening quarter on its weakest footing yet.6.96%30-yr avg$392KMetro ZHVI5.2Mo. supply FebruarySnapshotUnsold new homes reached their highest level since 2009, metro inventory stood thirty-seven percent above a year earlier;and a market that had spent the fall thinning out began to show the first signs of the spring build to come.6.84%30-yr avg$391KMetro ZHVI4.5Mo. supply MarchSnapshotBoomer owners said they would never sell, the inflation-adjusted national price index stood only four and a half percent above its 2006 level;and the metro's own spring turn arrived on schedule even as its value index kept drifting down for a sixth straight month.6.65%30-yr avg$390KMetro ZHVI3.9Mo. supply AprilSnapshotInventory bounced back nationally, the count of active sellers passed the count of active buyers by about half a million;and the metro's own spring market ran faster than at any point since October even as five of six corridor counties turned negative on the year.6.72%30-yr avg$389KMetro ZHVI3.6Mo. supply MaySnapshotAtlanta's own seller surplus ran sixty-three percent by one metro measure, the median homebuyer nationally turned fifty-six, buying required about fifty thousand dollars more income than renting;and every one of the corridor's six counties closed May negative on the year for the first time in the eight months on file.6.82%30-yr avg$387KMetro ZHVI3.9Mo. supply JuneSnapshotRates sat still at 6.82 percent for a second month while the metro kept loosening underneath them, price cuts climbing to the highest share in the two-year record and days to pending nearly doubling on the year;so June was a market giving ground on terms while the sticker barely moved.6.82%30-yr avg$386KMetro ZHVI4.0Mo. supply JulySnapshotRates eased for a second straight month to 6.72 percent, but Atlanta sellers answered the slowdown by pulling listings rather than cutting price, and the metro's price-cut share and days-to-pending both kept climbing anyway;so the easing did not buy the market any speed.6.72%30-yr avg$384KMetro ZHVI4.4Mo. supply AugustSnapshotRates fell the steepest of the summer, to 6.59 percent, but most borrowers were already locked well below that level, seventy percent under 5 percent nationally by the prior quarter;so the easing that month mattered far more to a new buyer than to the owner who was not going anywhere.6.59%30-yr avg$383KMetro ZHVI4.9Mo. supply SeptemberSnapshotRates fell the most of any month that summer, to 6.35 percent, just as Atlanta-area sellers pulled the highest September count of delistings nationally since 2017;and days to pending reached 45, the slowest reading this four-month stretch had shown, while mom-and-pop landlords tightened their grip on the rental stock beneath it all.6.35%30-yr avg$383KMetro ZHVI4.8Mo. supply OctoberSnapshotRates eased for a second straight month to the lowest reading in roughly a year, inventory stayed near the cycle's high point without climbing further;and the FHA's pandemic-era loss-mitigation options expired on the first of the month, closing a door for distressed borrowers just as the market's own pace kept slowing.6.25%30-yr avg$383KMetro ZHVI4.7Mo. supply NovemberSnapshotRates held near October's level while the market's pace broke sharply slower, sales fell a quarter from the prior month, months of supply jumped past six;and a national wave of delistings and a record-low first-time-buyer share described a market where sellers who needed to sell were stuck and sellers who did not need to sell were simply leaving.6.24%30-yr avg$382KMetro ZHVI6.1Mo. supply DecemberSnapshotRates eased to the lowest level in the record to that point, sales bounced back sharply from November's collapse even as days to pending stretched to 55;a national report said sellers outnumbered buyers by a record margin, and the 2026 conforming loan limit rose to $832,750, the one clearly good-news line in an otherwise soft month.6.19%30-yr avg$382KMetro ZHVI4.5Mo. supplyNew this month

What the year meant

For a buyer
Cheaper money arrived, but the discount in rate did not buy a discount avoided on price.
For a seller
Supply built faster than rate relief could pull demand, so value slipped even as rates fell.
For a practice
The lesson of 2025 is that a rate cut does not lift a market that is loosening underneath it.

What to watch

Whether the easing that ran through 2025 holds or reverses into 2026.
Whether the supply build that crested above 34,000 keeps climbing.
Whether a flat median masks a softer typical value into the new year.

The close · Sources

Sources and method

Rates from Freddie Mac PMMS via FRED (MORTGAGE30US, MORTGAGE15US) and the US Treasury (DGS10). Values, inventory, pace, price cuts, and rent from Zillow Research, pulled for the month each figure summarizes. Months of supply and the payment stack are computed from those public series; the long-run norm on the rate exhibit is the since-1971 average from the history base. Each month page states its own vintage; nothing here is backdated.

Data credits. Source: Freddie Mac via FRED · Data Provided by Zillow Group

The Record · Atlanta residential · 2025 · Year snapshot · compiled October 2026

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