Metro Atlanta home prices went up by double digits year-over-year in March, but the pace is slowing. The Case-Shiller index of home prices report shows home prices here jumped 15.7 percent annually in March.
Nationally, the index climbed climbed 1.24% month over month in March, exceeding consensus forecasts of a .7% rise. On a year over year basis, home prices rose 12.4%, again exceeding forecasts of a 11.8% y/y gain. All 20 cities in the index showed a year-over-year gain, led by a 21.2% climb in Las Vegas and a 20.9% advance in San Francisco. Cleveland showed the smallest year-over-year increase, with prices rising 3.9%.
“The year-over-year changes suggest that prices are rising more slowly,” said David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Annual price increases for the two composites have slowed in the last four months and 13 cities saw annual price changes moderate in March. Housing indicators remain mixed,” he continued. “April housing starts recovered the drop in March but virtually all the gain was in apartment construction, not single family homes. New home sales also rebounded from recent weakness but remain soft. Mortgage rates are near a seven month low but recent comments from the Fed point to bank lending standards as a problem.”
Epic Development is currently building in Decatur, Edgewood, LaVista Park, Old Fourth Ward, Ormewood Park, Riverside, Sandy Springs and Virginia Highland. View all the details of our current listings here. For more information about our homes call Scott Eaves at (404) 518-3820 or at email@example.com. For more information about commercial real estate operations or investment visit EpiCity.com.