Atlanta home prices up 4% in May (Natalie Ransom)July 19, 2010
From Atlanta Business Chronicle
For the second month in a row, home prices in metro Atlanta increased.
CoreLogic (NYSE: CLGX) on Tuesday published its Home Price Index (HPI), which shows home prices, including distressed sales, in metro Atlanta rose 4.03 percent in May 2010 compared to May 2009. This compares to April’s year-over-year HPI, which was 1.11 percent.
Home prices in the United States also rose in May, marking the fourth-consecutive month with a national increase. American home prices, including distressed sales, increased 2.9 percent.
The top five states with the highest appreciation in May were Vermont (5.1 percent), Rhode Island (5.5 percent), Massachusetts (5.7 percent), Virginia (6.8 percent), and California (7.9 percent).
The five state with the biggest price losses were Idaho (-6.6 percent), Alabama (-5.3 percent), New Mexico (-4.2 percent), Maryland (-3.1 percent) and Wyoming (-3.1 percent).
“Home price appreciation stabilized as homebuyer tax credit driven sales peaked in late spring,” said Mark Fleming, chief economist for CoreLogic, in a statement. “But given that the labor market and income growth remain tepid we expect prices to moderate and possibly decline the rest of the year.”