ATLANTA — New data shows the average American is saving faster for a home down payment than in recent years, and metro Atlanta is beating the national average.

A new study from Realtor.com finds it now takes about seven years for the average buyer to save for a down payment on a home. That’s a significant improvement from 2022, when it took as long as 12 years.

The Atlanta, Sandy Springs, Roswell metro area ranks among the fastest in the country, with buyers taking just under five years to save for a down payment.

Despite the improvement, Realtor.com says several challenges remain. Higher home prices and intense competition have pushed required down payments higher. The study also cites inflation and rising household expenses as factors reducing how much people are able to save.

While saving times have improved since the peak in 2022, the report notes it still takes about twice as long to save for a down payment compared to the period before the COVID-19 pandemic.