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
18 essential Atlanta restaurants, from neighborhood gems to MICHELIN-starred destinations
Photograph by Andrew Thomas Lee
Atlanta’s dining scene has long been a force, but in recent years, its flavors have only grown more powerful. Chefs from around the world have brought global recipes here, while local talent continues to prove that Southern cooking is far more than just fried chicken (though you’ll find plenty of that, too). Eight Atlanta restaurants have MICHELIN stars, with many more recognized with distinctions and Bib Gourmand nods. Whether you’re craving soul food, steaks, or spiced curry, here are 18 spots worth seeking out.
Photograph by Kate Blohm
Photograph by Kate Blohm
Global Meets Southern
In Atlanta, international flavors mingle with Southern traditions, giving rise to inventive fusion cuisines. Sweet Auburn BBQ in Poncey-Highland is proof of this: Siblings Anita and Howard Hsu combine their Chinese heritage with their Atlanta roots in dishes like pimento cheese wontons and char siu–style smoked ribs. At Smyrna’s Heirloom Market, housemade kimchi and macaroni and cheese accompany meats like smoked brisket and Korean spicy pork. At Talat Market in Summerhill, “fusion” speaks less to the dishes than to the sense of place. The restaurant calls itself “Georgian Thai,” a nod to its use of regional produce in deeply rooted Thai dishes like crispy rice salad with seasonal greens sourced from Georgia farms (Woodland Gardens, Hickory Hill) and pork from nearby Riverview Farms.
Courtesy of Lees Bakery
Buford Highway Hits
Atlanta’s 36-mile stretch of road known as Buford Highway is home to the city’s most dynamic international dining. Along the street’s Brookhaven section, Vietnamese mainstay Lee’s Bakery is well-known for its bánh mì prepared with from-scratch rolls. At Yet Tuh, hidden in the back of a Doraville office park, Korean favorites like kimchi pancakes and bibimbap are served in a homey setting. Also on a Doraville section of Buford Highway, Filipino flavors delight at Kamayan ATL, where veggie lumpia and sizzling sisig deliver bold spices; cool off with the fruit-filled halo-halo.

Courtesy of Mary Mac’s Tea Room

Courtesy of Mary Mac’s Tea Room
A Taste of History
Peer into the past at Atlanta’s landmark restaurants. At Paschal’s in Castleberry Hill, Civil Rights leaders (including John Lewis and Andrew Young) gathered over fried chicken, while Dr. Martin Luther King Jr. organized the movement over soul-food dishes like macaroni and cheese and ham hocks at Vine City’s Busy Bee Cafe. Mary Mac’s Tea Room, open in Midtown since 1945, serves up classic Southern hospitality and sweet tea in six bustling dining rooms. Also in Midtown, the world’s largest drive-in restaurant, The Varsity, has boisterously asked customers “What’ll ya have?” since 1928 (a chili dog, of course).
Photograph by Andrew Thomas Lee
Photograph by Heidi Geldhauser
Photograph by Andrew Thomas Lee
Locally Inspired
Long growing seasons and a favorable climate yield a bounty of local produce that inspires area chefs to new levels of creativity. The Chastain in Buckhead grows herbs and vegetables in its on-site garden, visible from the farmhouse-style dining room, showcasing them in drinks, dishes, and a garden tasting menu. At West Midtown’s Miller Union, James Beard Award–winner Steven Satterfield has made the seasonal vegetable plate a must-order (The New York Times says it’s the dish that showcases the restaurant’s “full effect.”) In Reynoldstown, chef Reid Trapani partners with local growers to create Latin American–inspired vegan dishes at La Semilla, often featuring peak-season fruit desserts, like apple empanadas in fall or strawberry tres leches in spring.
Photograph by Andrew Thomas Lee
Photograph by Thomas Espinoza
Photograph by Thomas Espinoza
Upscale Fare
MICHELIN began awarding stars to Atlanta restaurants in 2023, signaling to the world the strength of the city’s dining scene. Recipients include Lazy Betty, where chefs Ron Hsu and Aaron Philips craft a seasonally driven tasting menu in a cosmopolitan Midtown setting. Buckhead’s Atlas, also a MICHELIN star winner, surrounds diners with high art (Picasso, Chagall) while chef Freddy Money delivers equally artful dishes (don’t skip the lavish cheese cart or the water-garnish service). In West Midtown, Chef J. Trent Harris of MICHELIN-starred Mujō prepares world-class omakase meals featuring traditional Edomae-style nigiri with fish flown in from Japan. A hip-hop soundtrack keeps the mood upbeat in the dark intimacy of the blackbox setting.
Photograph by Matt Wong
Courtesy of Little Tart Bakeshop
Neighborhood Gems
Atlanta is a patchwork of pocket neighborhoods, each with its own personality reflected in its restaurants. In East Lake, Pure Quill Superette is located in a former tire shop, encapsulating the neighborhood’s historic yet gritty charm. Inside, the team prepares elevated comfort food like fried cod sandwiches, tofu rice bowls, and squash hoecakes served with housemade preserves. In Old Fourth Ward, Staplehouse reflects the neighborhood’s evolution, where creative types gather in a former boardinghouse that speaks to the area’s layered past. Dishes are simple—sourdough pizza, salads, and an Italian grinder among them—but prepared with precision. The Little Tart Bakeshop matches Grant Park’s blend of charm and community with its plant-filled decor and buttery, flaky croissants and galettes filled with seasonal fruit, plus a full coffee program that keeps the neighborhood humming.
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Atlanta, GA
Staycations Are Trending: Atlanta Events Worth Staying Home For In June
Travel trends nationwide suggest more people are staying close to home this year due to higher oil and gas prices. Some 71 percent of Americans plan road trips for summer vacations, according to Hilton’s 2026 Trends Report.
Another study, by Bank of America, found consumers are responding to higher gas prices by taking fewer trips, reducing travel budgets, cutting back on accommodations, or choosing destinations closer to home.
Atlanta, GA
Braves News: Ronald Acuna hamstring injury update, losing skid, more
Catcher Jair Camargo collected his first big league hit in the top of the ninth tonight. He was added for the double-header today.
This was his first MLB appearance since 2024 with the Twins. He was hitless in seven plate appearances for Minnesota.
He struck out in his first at bat with Atlanta before doubling for his first base knock.
Congratulations.
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