John Ryan, chief marketing officer at Georgia Multiple Listing Service (GAMLS), joins Host Carol Morgan on the Atlanta Real Estate Forum Radio podcast to unpack the current state of Georgia’s housing market, from affordability and inventory to interest rates and buyer behavior.

When asked to compare today’s housing market to a board game, Ryan described it as “a mashup” of Monopoly, Chutes and Ladders and The Game of Life. He explains that Monopoly represents the capital-driven side of real estate, where those with equity or access to funds have a major advantage, while The Game of Life reflects long-term planning, job stability and family milestones that influence whether people rent or buy. Finally, Chutes and Ladders captures the volatility of interest rates and inventory fluctuations that cause sudden market shifts.

Still, Ryan says Monopoly best fits the current housing landscape, where “capital is king” and affordability remains a major challenge for many buyers.

“I think if you do have capital, or if you own a property, you do have an advantage,” said Ryan. “For the people that are starting out and just getting in, it’s tough.”

While the total home sales volume in Georgia dipped slightly in 2025, the market remains resilient. Year-to-date, the state has recorded $19.9 billion in real estate transactions, down just 1% from the previous year.

“We have seen sales volume go down, but I contribute that to a shift toward a more balanced market,” said Ryan. “It’s giving more opportunities on the sale side and more opportunities on the buy side as well.”

A slight slowdown reflects not just higher interest rates but also increased buyer caution and the natural transition away from the frenzied, seller-dominated years of the COVID-19 pandemic. Ryan assures that the Atlanta housing market is in a good place overall. The region has transitioned from intense bidding wars and one-month inventory to a healthier 4.7 months of supply, which represents the more balanced market that Ryan describes.

Atlanta’s strong economy, upcoming 2026 World Cup events and steady corporate growth also point to long-term stability. The city is home to several Fortune 500 companies and corporate headquarters for leading global industries.

One of the most telling indicators of market adjustment is the gap between active listings and sold properties. Sold properties are averaging between 40 to 42 days on the market, which Ryan says is a sustainable range. Active listings are not so lucky. Many haven’t sold and currently average more than 70 days on the market, signaling that overpricing remains an issue.

Ryan said, “I think that there are still sellers looking at past gains in the rise of the home prices, thinking that their property is still in line with that market.”

He emphasizes the importance of working with experienced real estate professionals who understand current data, local competitors and pricing strategy.

As inventory grows, buyers are gaining more negotiating power. According to GAMLS data, 62% of sold homes in 2025 have included seller concessions, averaging around $4,000 per sale, while 41% of listings have had price reductions since January.

Ryan said, “The big changes that we have seen moving through the year are flexibility and negotiation on both the seller and the buyer sides.”

While inventory saw a slight seasonal dip in August 2025, the Atlanta core counties still reported a 25% year-over-year increase in available homes. That is a significant shift from the low-inventory housing climates of 2021 and 2022. Interest rates remain the dominant variable and moderate decreases could stimulate significant market movement.

“If the interest rates get down to 6% or maybe even drop down to the high fives, that could mean a 13% increase in the number of homes sold,” said Ryan. “That would help people get back into the market.”

As 2025 winds down, all eyes are on interest rates and inventory going into next year. Lower rates could boost buyer confidence and revitalize spring sales, while continued inventory growth will keep competition balanced. For buyers, Ryan recommends going beyond pre-approval to truly understand monthly payments, insurance and taxes. For sellers, the key remains realistic pricing and presentation.

Tune into the full episode to hear more insights on Georgia’s housing trends, buyer and seller behavior and what to expect in 2026. For more information about Georgia MLS, visit www.GAMLS.com.

Georgia MLS is the largest real estate marketplace in Georgia, serving 52,600 agents and 4,600 brokerage offices across the state. Its offices can be found in the North Georgia Mountains, through metro Atlanta and all along the Georgia coast.

What does Georgia MLS bring to the Atlanta housing market? The multiple listing service provides opportunities for brokerages and agents to connect and work together for their clients. Georgia MLS is also a proud founding partner of the Southeast MLS alliance – Georgia MLS, Charleston MLS, Charlotte MLS and Nashville MLS.

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