Home prices in Metro Atlanta down
Atlanta home prices are on a steady decline. The latest report from Zillow shows the median home price in the Metro area is nearly $108,000 and prices could drop even further.
According to the research firm Zillow, local home prices are down 9% from last year. Eugene James heads the Atlanta office of Metro study a real estate search firm.
“Overall the trend shows that prices are coming down, but drill down and look a lot closer you’ll see that there are submarkets in Atlanta where prices are actually starting to inch up.”
That’s the case in markets with good schools and few foreclosures. But for the rest of the market, don’t expect prices to hit bottom this year. Zillow predicts home prices will drop another 4% by March 2013.
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