Atlanta home prices continued to rise into mid-summer, but the rate of increase has slowed dramatically, according to a closely-watched report issued Tuesday morning.
Atlanta’s average home prices were up just 0.5 percent in July over June, according to the S&P Case-Shiller Home Price Index, which is calculated monthly.
Since a year ago, Atlanta’s prices have risen 6.7 percent – the same increase as the average for the top 20 U.S. cities, according to Case-Shiller.
Of those 20 cities, only three posted double-digit gains for the past year: Las Vegas, Miami and San Francisco.
Las Vegas – which suffered through what was probably the nation’s worst housing depression after the burst of the housing bubble in 2006 – is now leading all cities with gains: average prices in Las Vegas were up 12.8 percent over the past year, according to Case-Shiller.
Of the top 20 cities, all but one had gains during July, but 17 of those 19 gains were smaller in July than they were the previous month.
About the Author
