Some U.S. cities saw home sale price gains in December from the same month a year earlier, but metro Atlanta wasn’t among them. The region’s median price did rise slightly from November, however.
Metro Atlanta’s median sale price for existing single-family homes was $109,400, down 10.3 percent from a year earlier, according to National Association of Realtors data released Thursday. In November it was $108,300, down 16.2 percent from November 2009.Nationally, the median existing single-family home price was $169,300 in December, down 0.2 percent from a year ago.
Is this a surprise?
No. December is the seventh month in a row in which the median price dropped from the previous year. But it was the first time during that stretch that there was an improvement from the previous month. Even with that silver lining, the metro area median price is still 12 percent down from the 2010 peak in May. For that month the median price was nearly $125,000, 3 percent above the same month in 2009.
On Tuesday, Standard & Poor’s releases its Case-Shiller Index for November. Case-Shiller and the National Association of Realtors track the existing single-family home pricesbut use different methodologies. The Realtors’ results are based on monthly closings and produce a median price. Case-Shiller follows properties sold over time, rather than individual home sales, and measures value from a baseline in 2000.
Information by the AJC today 1/20/2011
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