Atlanta Real Estate Prices Down 15.7%
The most recent S&P/Case-Shiller Index (April) indicates a 19.1 percent decline in the average homes prices nationwide versus the same time last year. Statistics led Standard and Poor's to report:
We see no evidence that a recovery in home prices has begun.
The Case-Shiller report included a survey of the 20 major metropolitan areas and show that Phoenix, Las Vegas and San Francisco suffered the most significant declines in housing prices over the past year —all posting losses over 30 percent in the last 12 months.
How's Altanta Real Estate Holding Up?
Well...there's good news and there's bad news. Bad news first: Atlanta experienced a 15.7% decline in average real estate prices since April 2008. The good news? On Tuesday I had the pleasure of doing an interview with Fox News and Fox Business Network...where I laid it on the line and predicted prices won’t drop much further from their current lows here in Atlanta. But I do think even after the Atlanta real estate market does recover, it will be a very different landscape than the years leading up to this bust. For more of my analysis (and a quick look at my claim to fame this week), click on the video below.