Home Prices in Atlanta climb First increase since last July

Metro Atlanta's home prices reversed months of declines, ticking up almost 1 percent April, according to Standard & Poor's Case-Shiller Home Price Index, giving an indicator that the city is finally following other metropolitan areas out of the slump.

It was the first uptick in the area's Case-Shiller price since last July, and is being driven by record low interest rates, shrinking inventory, fewer foreclosure sales and the typical spring and summer selling season.

"It has been a long time since we enjoyed such broad based gain," said David M. Blitzer, chairman of the index committee.

The report noted that 19 of the 20 metro areas it tracked showed price increases and improving rates of return.

Home prices in Atlanta were up .8 percent when adjusted for the spring selling season. That beat the national averages of .7 percent.