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Home prices inching up in Atlanta

June 21, 2010

From Atlanta Business Chronicle

Natalie Ransom, Buckhead Office, REALTOR®

Natalie Ransom, Buckhead Office, REALTOR®

Metro Atlanta and Georgia home prices, including distressed sales, went up in April, according to CoreLogic’s Home Price Index (HPI) report on Monday.

Metro Atlanta’s home prices rose 1.1 percent from April 2009 to April 2010, while prices in the state increased 0.2 percent in the same period. This compares with March’s year-over-year HPI, which was -0.08 percent.

National home prices, including distressed sales, grew by 2.6 percent. This marked an improvement over March’s year-over-year price increase of 2.3 percent.

“The monthly increase in the HPI shows the lingering effects of the homebuyer tax credit,” said Mark Fleming, chief economist for CoreLogic, in a statement. “We expect that we will see home prices remain strong through early summer, but in the second half of the year we expect price growth to soften and possibly decline moderately.”

Hawaii saw the biggest rise in home prices at 13.4 percent, followed by Massachusetts (7.4 percent), California (7.3 percent), Virginia (6.5 percent) and New Hampshire (5.2 percent).

The biggest decliners were Idaho (-7.2 percent), Illinois (-5.8 percent), Nevada (-4.6 percent), Maryland (-4.3 percent) and Washington (-3.7 percent).

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