Mostly Good News for Atlanta in Latest Case-Shiller National Index

The latest S&P/Case-Shiller Home Price Index came out last week, and it brought mostly good news for homeowners across the country.

The Case-Shiller National Index covers all nine U.S. Census divisions, giving us broad insight into national home-price trends. The 20-City Composite shows what prices are doing in 20 of the nation’s largest metro areas. The latest report contained data through the end of June 2013, due to a two-month reporting lag.

Nationally, home prices rose 10.1% in the second quarter of 2013, compared to the same period in 2012. The 20-City Composite was up 12.1% in June, compared to a year earlier.

Locally, there is some good news among the highlights. Atlanta had the largest monthly gain in the latest report, with home prices rising 3.4% from May to June of this year. Coincidentally, prices also rose by 3.4% from April to May of 2013.

The not as great news: Prices could start cooling within the Atlanta real estate market, due to inventory gains. Atlanta is currently one of the top 10 housing markets for inventory growth. This could put downward pressure on property values, going forward.
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