Atlanta home prices showing improvement (Natalie Ransom)January 26, 2010
Submitted by Natalie Ransom, REALTOR®, Atlanta Fine Homes Sotheby’s International Realty
From the Atlanta Business Chronicle
The decline in Atlanta home prices continued to slow from October to November 2009, according to the Standard & Poors/Case-Shiller Home Price Index published Tuesday.
The report shows the price of a home in the Atlanta market was down only 0.8 percent from October to November and down 6.2 percent year over year in November. Atlanta home prices were basically flat from September to October.
The average decline for the nation’s top 20 metros was 0.2 percent from October to November and was 5.3 percent year over year. This marks approximately 10 months of improved readings in the annual statistics, beginning in early 2009, and is the third consecutive month these statistics have registered single digit declines, after 20 consecutive months of double digit declines.
As of November 2009, average home prices across the United States are at similar levels to where they were in late 2003. From the peak in the second quarter of 2006 through the trough in April 2009, the 20-city composite is down 32.6 percent.
“While we continue to see broad improvement in home prices as measured by the annual rate, the latest data show a far more mixed picture when you look at other details,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, in a statement. “Only five of the markets saw price increases in November versus October. What is more interesting is that four of the markets — Charlotte, Las Vegas, Seattle and Tampa — posted new low index levels as measured by the past four years. In other words, any gains they might have seen in recent months have been erased and November is now considered their current trough value.”
Please click here for the entire article from the Atlanta Business Chronicle on Atlanta home prices showing improvement.