Metro Atlanta home prices up in 2017 — but lack of listings got worse

Metro Atlanta’s housing market its fifth consecutive year of solid gains last year, but the shrinking supply in homes for sale has continued to drop into the red zone, according to a report by Re/Max.

The median sales price of a ho me sold last year was $239,000 – up 6 percent from 2016.

Rising prices are likely to push buyers – especially first-time buyers — deeper into the suburbs this year, said John Rainey, vice president of Re/Max Georgia. “Looking ahead, we expect to see changes in buying patterns this year, as buyers begin to look to communities further outside of Atlanta in search of more affordable housing and a wider selection.”