I Simply Just Don’t Understand…

Metro Atlanta’s housing market has entered a clear—and in some price bands undeniable—buyer’s market. Homes that once sold in days now routinely sit for 60 to 90 days or more, even in sought-after areas. Yet despite this shift, many sellers remain anchored to yesterday’s pricing psychology, often resisting even modest concessions that could bridge the gap between listing dreams and market reality.

Consider the backdrop. According to the National Association of Realtors, Metro Atlanta home values surged 67% from Q1 2022 through Q2 2025. A home purchased for $500,000 in early 2022 could easily appraise near $835,000 today—a staggering $335,000 increase in barely three years. These gains are real, but they also carry a misperception: some sellers believe that rapid appreciation guarantees continued pricing power, regardless of shifting demand, rising interest rates, or buyer fatigue.

In practice, the market doesn’t work that way. Housing economics is rooted in one timeless truth: a home’s true value is what a willing buyer will pay and a willing seller will accept. No automated valuation model, comparative market analysis, or even pre-listing appraisal can override the negotiation that happens across a kitchen table. And recently, the gap between buyer expectations and seller expectations has widened dramatically.

Take a real-world scenario. A seller with roughly a $3,500 monthly mortgage payment refused to reduce their asking price by $7,500—a difference that separated them from a ready, qualified buyer. Sixty days later, after the home continued to sit, the carrying cost alone effectively erased that $7,500. Had the seller adjusted their price, they would likely be unpacking in their next home rather than continuing to wait for an offer that may never come.

This dynamic highlights an important behavioral element in real estate markets: anchoring bias. Sellers mentally latch onto a specific price—often the list price, or the value a neighbor received months earlier—and treat any deviation as a loss, even when the broader equity picture shows overwhelming gains. But equity earned through market appreciation is not a guaranteed or permanent asset. It fluctuates with demand, interest rates, and economic cycles.

None of this diminishes the incredible wealth many homeowners have built from 2022 through 2025. But rapid appreciation can create unrealistic expectations, especially when conditions cool and buyer leverage increases. Sellers who sharpen their pencils, adjust to market realities, and remain flexible on price often find themselves moving forward more quickly—and more profitably in the long run.

As Metro Atlanta settles into a new equilibrium, the smartest sellers will recognize that protecting yesterday’s price may cost far more than accepting today’s offer. After all, when they’re sitting on the deck of their new home in 2027, they won’t remember whether they sold in 2025 for $7,500 more or less. They’ll simply be grateful that they made the right move at the right time.