Metro Atlanta home prices up faster than most

Los Angeles …….. 6.70%

Atlanta …………… 6.4%

Miami …………….. 6.20%

Las Vegas ………… 6.10%

Boston …………….. 5.10%

New York ………… 4.20%

Houston ………….. 4.10%

Chicago ……………. 3.80%

San Francisco ……. 3.40%

Washington, D.C. …….2.50%

Source: CoreLogic

Metro Atlanta home prices rose 6.4 percent over the past year, outpacing the national average as well as most other major metro areas, according to a report issued this morning.

Atlanta also led the rest of the state, rising faster than the Georgia average increase of 5.8 percent, as well as the national price increase of 6.0 percent, according to the report by CoreLogic, a California-based real estate information company.

A dozen states had faster increases than Georgia.

However, among metro areas, only Denver and Los Angeles metro areas saw faster-paced price hikes than Atlanta.

CoreLogic also makes predictions. In today’s release, the company projects that the trajectory of home prices will continue to rise, but at a slightly slower pace over the next year.

"If mortgage rates continue to remain relatively low and job growth continues, as most forecasters expect, then home purchases are likely to rise in the coming year," said Frank Nothaft, chief economist for CoreLogic. "The increased sales will support further price appreciation, and according to the CoreLogic Home Price Index, home prices are projected to rise about 5 percent over the next year."