Although people in the Atlanta area wanting to buy a home still faced record-high home prices in 2024, for the first time in four years housing affordability improved rather than worsened, according to a new report by the real estate brokerage firm Redfin.
It is still tough out there for people hoping 2025 could be the year they finally own a home. According to an analysis published Monday , the median sale price of $397,948 in metro Atlanta in 2024 means a household on the median income of $93,843 would still face a monthly payment of $2,711, or 34.7% of their income.
Even so, this is an improvement compared to 2023, when the share of income for mortgage was about 35.3%. By Redfin’s metrics, it’s the first time in four years that housing affordability got better in metro Atlanta…