Case-Shiller: Atlanta home prices soar above the national averages

by Peter Thomas Ricci


After some strong summer months, Metro Atlanta home prices remained strong as ever in the fall, according to the latest Case-Shiller Home Price Indices from Standard & Poor’s.

From August to September, Metro Atlanta prices were up 0.2 percent, while year-over-year, prices were up 5.3 percent, both of which blew past the national averages.

Home prices in the Case-Shiller

The situation was a bit different for the Case-Shiller’s national indices:

  • The National Index, which covers all nine U.S. census divisions, set a new record in September with a 5.5-percent annual gain; the previous peak for the index was July 2006.
  • The 10- and 20-City Composites, meanwhile, posted year-over-year gains of 4.3 and 5.1 percent, respectively.
  • Month-to-month, the National Index was up 0.4 percent, while the 10- and 20-City Composites both rose 0.1 percent. Interestingly, when seasonal adjustments are factored in, the National Index’s increase jumps to 0.8 percent, while the 10- and 20-City Composites jump to 0.2 and 0.4 percent, respectively.

“Start of a new advance” for housing

David M. Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices, was optimistic in his comments accompanying the Case-Shiller reports, though he tempered that with the realities of some markets.

“The new peak set by the S&P Case-Shiller CoreLogic National Index will be seen as marking a shift from the housing recovery to the hoped-for start of a new advance” Blitzer said. “ While seven of the 20 cities previously reached new post-recession peaks, those that experienced the biggest booms – Miami, Tampa, Phoenix and Las Vegas – remain well below their all-time highs.”

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