Atlanta, GA
Atlanta’s housing market “at risk” as demand for homes collapses
Atlanta’s once red-hot housing market is suffering a cooldown, as the Georgia city reported the biggest share of home sale cancellations in April of all U.S. metro analyzed by Redfin and sales fell year-over-year for the third consecutive month.
The city’s housing market is “at risk” of experiencing a significant downturn, with price drops so steep that it could feel “very much like a crash,” Norada Real Estate Investment’s analyst Marco Santarelli said.
Why It Matters
Many of the hottest housing markets during the pandemic are now experiencing corrections, with lower demand putting downward pressure on prices. The most glaring examples of this unfolding phenomenon are concentrated in the South, where most remote workers relocated during the health emergency.
In these markets, affordability reached a breaking point during the pandemic after which many locals were priced out of buying homes. The only ones who could afford buying properties were investors and out-of-state buyers—but high prices, elevated mortgage rates and growing economic uncertainty have now discouraged these categories as well, and sales are dropping.
While this could be good news for locals pushed to the sidelines of the market, prices are yet to reflect this changing dynamics in Atlanta—but experts say it might only be a matter of time until they start falling.
What To Know
In April, home sales in Atlanta were down 4.6 percent year-over-year, for a total of 699 homes sold in the city, according to Redfin data. The typical home also spent seven days longer in the market before going under contract than it did a year earlier, for a total of 45 days.
In the same month, the city also reported the highest share of home-purchase agreement cancellations in the country compared to all pending sales, with 20 percent of home-purchase agreements falling through, up from 17.6 percent last year.
According to experts, shrinking demand is due to locals being priced out of the market and investors turning away from Atlanta.
“The collapse in investor demand in the U.S. housing market is alarming. In a market like Atlanta, investors are buying 65 percent fewer homes than they did at the peak of the pandemic,” Nick Gerli, real estate analyst and CEO of Reventure, wrote on X.
Raymond Boyd/Getty Images
“Investors are buying fewer homes because of elevated interest rates, declining rents, and rising insurance costs,” he said, commenting on a Reventure graph showing that investor purchases in Atlanta are now 65 percent lower than their peak in the second quarter of 2021.
The collapse in investor demand in the U.S. Housing Market is alarming.
In a market like Atlanta, investors are buying 65% fewer homes than they did at the peak of the pandemic.
Other markets where investors are jumping ship include:
Jacksonville (-63%) — Nick Gerli (@nickgerli1) May 28, 2025
Phoenix (-62%)… pic.twitter.com/gD0rEceXpt
Investor sentiment appears to be shifting nationally, not just in Georgia. Gerli noted other cities experiencing a steep decline in investor activity include Jacksonville, Florida (-63 percent), Phoenix, Arizona (-62 percent), and Charlotte, North Carolina (-61 percent).
Despite the ongoing cooldown in demand, prices are still rising in the city. In April, the median sale price of a home in Atlanta was $440,000, up 5.4 percent from a year earlier and up more than 80 percent from April 2020. Of those homes that were sold last month, 21 percent went under contract above list price, while 32.7 percent had price drops.
A likely reason behind these price increases is the limited availability of homes in the Atlanta market. While inventory has been rising steadily in the past few months, with April reporting a total of 5,129 homes for sale in the city, up 8.9 percent from the previous month and 40.4 percent from a year earlier, according to Realtor.com, inventory remains below pre-pandemic levels.
But things may change soon. According to Norada Real Estate Investment, Atlanta is the second market most at-risk of price decline this year in the country after Albuquerque, New Mexico.
What People Are Saying
Redfin chief economist Daryl Fairweather previously told Newsweek: “We suspect that since Atlanta has been an investor hotspot in recent years, this could be the impact of investors backing out of deals, which might account for part of this trend.”
Gerli wrote on X: “Not so surprisingly, housing inventory and supply have skyrocketed in the markets where investors are no longer buying. And home values are now dropping in many of these markets on a month-over-month basis.”
Santarelli said in a recent report: “Atlanta attracted massive numbers of new residents during the pandemic thanks to its relative affordability (compared to coastal cities), job market, and quality of life. However, that popularity drove prices up dramatically.”
He added: “The negative state-level data combined with the volatile price trend line for Atlanta in the chart suggests that affordability is now a major challenge for many potential buyers. Plus, Atlanta is a major metro, which often sees more development and potentially faster inventory increases than smaller towns. This combination of stretched affordability and potential inventory growth puts it at risk.”
What Happens Next
According to Gerli, investors’ behavior normally amplifies “whatever the current market trends are.”
He wrote on X: “If there is a bubble, investors will make the bubble bigger, bringing in external capital into a local housing market that should be dependent on local buyers. Meanwhile, in a crash or downturn, investors tend to make the situation worse. Leaving the market in droves before the crash gets worse.”
According to Gerli, markets like Atlanta, where investors have backed off, could soon experience significant price drops. Santarelli expects very much the same to happen, with prices potentially falling by 10 percent, 15 percent, or 20 percent from their peak during the pandemic homebuying frenzy.
Atlanta, GA
Instant Takeaways From A Historic Atlanta Hawks Win Over The Sacramento Kings
The Atlanta Hawks pulled this win off because they have the two best players in the game and the Kings don’t have anything close.
While that may sound fairly obvious, it was noticeable because there’s an argument to be made that the Hawks let their foot off the pedal for long stretches of the game and played down to their competition. The Kings made it a game despite the injuries by leaning into the drive-and-kick game, making their open threes and doing their best to keep up with the Hawks in transition. However, Jalen Johnson and Nickeil Alexander-Walker were too good.
With the game tied at 97-97, Atlanta went on a 20-6 run to take definitive control of the game behind superstar performances from their two best players. Johnson had 26 points, 10 assists and five rebounds while burying several momentum threes when the Hawks needed him most. However, NAW was more consistent from start to finish. He scored 27 points on just 14 shots, hitting 4/9 from deep and going a perfect 9-9 from the charity stripe.
Sacramento gave it their all despite the injuries and got a vintage performance from DeMar DeRozan with 22 points on 9-18 shooting and even two threes. Daeqwon Plowden, Killian Hayes and Maxime Raynaud all had good games as well in order to give the Kings some life. Ultimately, though, the NBA is defined by star power and the Hawks had more of it tonight.
Sluggish To Start
The Hawks were missing a few names tonight, but there’s no real excuse for the way that they played tonight to start. They let the Kings control the first quarter and then had to claw their way back with four minutes left in the second quarter. Precious Achiuwa started the game out strong, scoring 12 points in the first half, and Maxime Raynaud had some nice moments on offense. However, it was a pretty poor effort on defense for the Hawks and they needed to turn things around in order to get back into the game.
Even so, ending the first half by shooting 33% from deep and only holding a 30-28 advantage in point paints was uninspiring from Atlanta. Onyeka Okongwu’s absence definitely lingered, but it wasn’t a terrible start from Jock Landale. Landale chipped in 12 points and six rebounds, posting a team-high +23 alongside Jalen Johnson and Nickeil Alexander-Walker. He finished the game with a double-double of 19 points and 12 rebounds, coming alive in the fourth quarter and burying a huge momentum three-pointer. However, the Christian Koloko minutes went terribly for Atlanta. He was a -11 in just six minutes. With Okongwu gone, their struggles on the defensive glass have been evident and it’s going to be a flaw they have to work around for the rest of the season.
Zacch Attack Back
Zaccharie Risacher is still one of the best shooters on the Hawks when he’s feeling it and tonight was a great example of that. He scored 10 points in 11 first-half minutes while nailing two threes. It provided a nice counterpoint to Johnson and NAW. His off-ball movement also played a role in the Hawks getting 20 assists in the first half. Atlanta’s done a great job of not letting the ball get stuck in most of their games this season, but that wasn’t necessarily true against the Celtics. They rectified those mistakes early.
He was a lot more quiet in the second half, but the Hawks really needed him in the first half to keep them in the game and he stepped up despite the lack of heavy minutes.
No Daniels, Hawks Scramble
Although it’s very possible to argue that Nickeil Alexander-Walker is also a contender for this title, Dyson Daniels has quietly been the second-most important player for the Hawks this season. There is no one on the team who brings his combination of passing, rebounding and defense. Even though the Hawks got 10 steals to the Kings’ five and passed the ball well tonight on the whole, their defensive communication was off for a lot of the night. The Kings got great minutes out of Killian Hayes and the overall operation looked very sloppy tonight because they didn’t have Daniels helping to organize things. His presence also makes a big difference for Jalen Johnson. Johnson quietly had to fight for a lot of his points tonight and got visibly frustrated at multiple points in the game.
Leaving Daequon Plowden wide open to tie the game with eight minutes in the fourth quarter is an excellent example of the little things that Daniels adds to the Hawks. His game runs completely contrary to the idea that a player must be a passable shooter from deep in order to add value on the court.
Mastering the Margins
The Hawks got the performances they needed from their stars, but they also did a good job of taking care of the details by the end of the game. It wasn’t a complete effort all the way, but it was encouraging to see the Hawks win the possession battle. They only had 12 turnovers to Sacramento’s 15 and ended up tying the Kings with 27 defensive rebounds apiece after a shaky start on the glass.
On defense, they stole the ball ten times and ran the floor well in transition. The lack of a paint advantage was noticeable – the Kings out-scored them in the paint by a 56-44 margin. However, it ended up not making much of a difference because they took care of everything else.
It’s a good win for the Hawks, but a much stiffer test comes up on Monday in the re-match against the Celtics. This is an important game for the Hawks due to the 76ers beating Charlotte and keeping possession of the seventh seed. They’ll have plenty of competition for the No. 6 seed down the stretch and the Eastern Conference matchups are going to loom large in April.
Atlanta, GA
Skol Brewing opening 30,000-square-foot gaming lounge in downtown Atlanta
Key points:
- Skol Brewing is expanding with a sprawling gaming lounge in downtown Atlanta.
- Valhalla Gaming Lounge should open in May at 200 Peachtree, adjacent Skol Brewing.
- The gaming venue will feature food, drinks, and more than 40 game options, including simulators, bocce courts, and an old-school arcade.
Skol Brewing Company is about to get a lot bigger. The Nordic-themed brewpub in downtown Atlanta’s 200 Peachtree building is expanding into an adjacent 30,000-square-foot space dedicated to playing games.
Valhalla Gaming Lounge should open in May, ahead of the FIFA World Cup matches in Atlanta this summer at nearby Mercedes-Benz Stadium.
Longtime Atlantans will remember that the 200 Peachtree building, located next door to the Westin Peachtree Plaza, is the former home of Davison’s and Macy’s department stores.
All 2026 FIFA World Cup Atlanta coverage
What to expect
Valhalla Gaming Lounge will feature more than 40 gaming options, including simulators, soccer experiences, bocce courts, billiard tables, darts, and old-school arcade games. There’s also a possibility a live-music stage and climbing wall could become part of the gaming lounge in the future. Skol already operates an axe-throwing venue at the downtown Atlanta brewpub through a partnership with American Axes.
Expect the Skol food and drinks menu served at Valhalla Gaming Lounge.
Related stories:
• 200 Peachtree announces Skol Brewing Co., Valhalla Social
• Red Phone Booth team opening three new Downtown Atlanta restaurants
• Where to eat like a local in downtown Atlanta
Skol Brewing in Atlanta
Skol Brewing Company opened at 200 Peachtree last year with a Nordic-inspired theme and menu. The menu, developed by Chef Rich Rosendale, leans into Midwest comfort food like Ellsworth Creamery cheese curds, smoked brisket poutine, and a take on a “Jucy Lucy” burger (cheese-stuffed patty popular in Minnesota).
The brewery produces nearly 20 beers, including Northern Lights Lager, Space Wrangler Hazy IPA, and Skol Nation Cold IPA, the last of which was brewed with Minnesota Vikings fans in mind. (The bar produces indoor snow whenever the Vikings score a touchdown.)
Valhalla Gaming Lounge joins several other restaurants in the works within the heart of downtown Atlanta and South Downtown near the state capitol. Many of these restaurants will open ahead of the World Cup.
Atlanta, GA
Power outage impacts more than 5,000 customers in Midtown Atlanta
Thousands of people are without power in Midtown Atlanta as crews work to restore service following an equipment failure, according to Georgia Power.
The outage affected nearly 5,300 customers, stretching from Currier Street Northeast to 11th Street.
Georgia Power said the outage was caused by an equipment issue, and crews are on-site making repairs.
Officials added that, thanks to smart grid technology, service is expected to be remotely restored to more than half of affected customers soon.
An estimated restoration time was listed at 10:15 a.m.
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