The price of new-construction homes continues to outpace the price of existing ones throughout metro Atlanta, according to the latest data from Realtor.com.

Why it matters: These higher prices, coupled with higher interest rates, continue to make home buying tough for the average metro Atlanta resident.

By the numbers: The median price of a new home in Atlanta was $469,900 at the end of the fourth quarter of 2024, compared with $376,000 for an existing home.

What they're saying: Multiple factors can drive up prices for new construction, but increases in labor, materials and land development costs, which are all passed onto buyers by developers, are primarily to blame, says John Ryan, chief marketing officer for Georgia MLS, a real estate listing service.

• "Whether it is supply chain efficiencies, or inflationary costs, the cost of materials to build new, energy efficient homes with the latest designs has increased, which — once again — builders pass along to their buyers," he says.

Zoom in: Atlanta's numbers have trended upward since January 2020, when the median price for new construction was $341,373 and the median for existing homes was $275,000.

The big picture: Nationally, the median list price of a new build was lower ($449,967) than in Atlanta during the fourth quarter of 2024, while an existing home was higher ($395,800).

What we're watching: Don't expect prices to drop much over the course of the year, Ryan tells Axios.

• Yes, there are more homes on the market, but the inventory isn't at levels that could bring down prices.
• "The combined need for more homes for sale matched with a consumer market that still has pent-up demand will continue to keep home prices elevated.

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Zoo Atlanta officials say they've started talks with China to bring back giant pandas to the city.

Driving the news: Zoo officials announced yesterday that they were "engaging in dialogue" with China and would begin preliminary design work on a giant panda complex to prepare for the big ole goofy creatures' future — but yet to be determined — return.

Catch up quick: The zoo's loan agreement with China ended in October 2024, and not long after, the pandas Lun Lun and Yang Yang and their two youngest kiddos Ya Lun and Xi Lun returned home.

• "All now reside at the Chengdu Research Base of Giant Panda Breeding, as do Lun Lun's and Yang Yang's five previous offspring," the zoo said in a statement.

The big picture: As tensions between Washington and Beijing grew over recent years, the number of giant pandas at U.S. zoos dwindled.

• Then, last summer — months after Chinese leader Xi Jinping visited the U.S. — China sent two giant pandas to the San Diego zoo. They were the first to come to the country in 21 years.
• The Smithsonian National Zoo in Washington, D.C. — which, like Atlanta, returned its pandas to China per terms of the zoo's loan agreement with the Chinese government — debuted its new bears in late January.

Caveat: Zoo officials say they don't have a formal agreement, meaning no current timeline.

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Preliminary data shows homicides in the nation's largest cities fell by 16% last year compared to the previous year.

By the numbers: An Axios analysis of Major Cities Chiefs Association (MCCA) data for 2024 from 69 self-reporting large police departments found that violent crimes decreased overall by 6%.

• In Atlanta, homicides fell 8 percent in 2024. Other violent crime also decreased for the second consecutive year in Atlanta, as we previously reported.

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Looking for something to get into this weekend? We've got you covered.

🎪 Ringling Bros. and Barnum and Bailey brings The Greatest Show on Earth to Gas South Arena. (Fri.-Sun.)

🪕 Bluegrass guitarist Billy Strings takes the stage at State Farm Arena. (Fri.-Sat.)

🎞️ The Atlanta Jewish Film Festival screens movies including "Art Spiegelman: Disaster Is My Muse," "Come Closer" and more. (through March 16)

🥃 The Beer, Bourbon & BBQ Festival serves up brews, smoked meats and music at Atlantic Station. (Sat.)

🎉 Lanta Gras kicks off the 10th annual parade and festival in Kirkwood to money for area students' music scholarships and instruments. (Sat.)

🏀 The Atlanta Hawks host home games against the Orlando Magic (Thurs.) and Detroit Pistons. (Sun.)

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🩺 While Georgia says the rollout of its alternative to Medicaid expansion has been a success, the program is struggling to enroll people in health care coverage and getting them employed — its two primary objectives. (ProPublica)

✔️ The U.S. Senate confirmed Kelly Loeffler to lead the Small Business Administration. (AJC)

👮 DeKalb County officers are set to get pay raises, improved benefits and a housing stipend in an effort to attract more applicants to the police department. (Decaturish)

😢 The memorial service will be held today for Joycelyn Nicole Wilson, the Spelman College professor whose body was found earlier this month in Lake Oconee. (WSB)

• More details have also been released about the timeline of the day when Wilson and Gary Jones, a Westminster Schools educator whose body has yet to be recovered, went missing. (AJC)

🥘 Panda Fest, one of the largest Asian food festivals in the country, will come to Atlanta in April. (Eater)