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After one of the hottest real estate summers in recent memory, the Atlanta residential real estate market is beginning to cool off. The Cal-Culator ranked October a 5.0, almost a full point below last month’s 5.9.
The negative news is attributed to a decline in mortgage applications and pending home sales, higher mortgage rates and the government shutdown, which affected hopeful homebuyers and mortgage lenders.
Atlanta did see a few positives in the housing market, including strong home price growth and a rebound in the number of home listings. The Cal-Culator, created by Southeast Mortgage, can be viewed on SaportaReport.