0
0
0

Atlanta Price Growth Remains Strong

by Peter Thomas Ricci

How have home prices progressed in the 2015 housing market?

equity-first-quarter-2015-corelogic-underwater-negative-home-prices

Home prices in the Atlanta housing market rose 0.1 percent from August to September and 6.2 percent from Sept. 2014, according to the new Case-Shiller Home Price Indices from Standard & Poor’s.

It was yet another strong month of price growth for Metro Atlanta, which has bounced back in a significant way the last two years.

The September Case-Shiller

Nationally, home prices continued to grow in a slow, steady manner:

  • The Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, rose 4.9 percent year-over-year.
  • Meanwhile, the 10- and 20-City Composites rose 5.0 and 5.5 percent, respectively, from where they were a year ago.
  • From August to September, the 10- and 20-City Composites both rose 0.2 percent.
  • U.S. home prices are now just 5 percent below their 2006 peak, but that is on nominal terms – when inflation is considered, prices are still down 19 percent from that boom-era peak.

Wider Economic Trends in Housing

David M. Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices, was positive in his assessment of both housing and the overall economy – even with a rate increase from the Fed.

“The general economy appeared to slow slightly earlier in the fall, but is now showing renewed strength,” Blitzer said. “With unemployment at 5 percent and hints of higher inflation in the CPI, most analysts expect the Federal Reserve to raise its Fed Funds target range to 25 to 50 basis points, the first increase since 2006. While this will make news, it is not likely to push mortgage rates far above the recent level of 4 percent on 30-year conventional loans.”

Related articles

Join the conversation

New Subscribe