Metro Atlanta home prices leveled out as the critical buying season got underway, according to a closely-watched report issued this morning.
Average home prices in the region during March were up 0.8 percent from the month before and were 5.4 percent above the average prices a year ago, according to the S&P/Case-Shiller Home Price Index.
That puts Atlanta’s price increases at just above the 5.0 percent gain calculated by Case-Shiller for the nation’s top 20 metro areas.
“Home prices have enjoyed year–over-year gains for 35 consecutive months,” said David Blitzer, managing director and chairman of S&P’s index committee. “The pattern of consistent gains is national.”
During the month of March, metro Atlanta prices were up 0.8 percent – tied for 12th biggest gain among the top 20. The fastest gain during the month was San Francisco’s 3 percent jump in average prices.
Only New York prices lost ground during the month, slipping 0.1 percent.
San Francisco prices also led the nation for the year with a 10.3 percent climb, followed closely by Denver at 10 percent. No region had an average decline in prices over the year, but Washington and Cleveland tied for the slowest ascent at 1 percent.