Drop in Atlanta home prices finally stalls

The most recent S&P Case-Shiller index, released today, showed the decline of average metro Atlanta home prices continues to slow down. Prices dropped 0.4 percent from April to May, a slight increase from 0.3 percent the month before. But numbers that were not adjusted to account for seasonal changes --- that can affect the strength of the market --- showed the average home price in Atlanta has increased by 0.3 percent over the same period of time, a mirror image of April’s performance.

Year-over-year, the average price of a metro Atlanta home dropped by 15 percent.

The 20-city index fell by 0.2 percent month-over-month and 17 percent year-over-year, but for the fourth month in a row the decline was not a record.

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Michelle E Shaw

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