The S&P/Case-Shiller Home Price Indices, released today, continue to show a broad decline in the prices of existing single-family homes, making 2007 a full year of declining prices nationwide.
Fourth-quarter 2007 prices fell a record 8.9 percent. Year-over-year prices declined 9.8 percent for the 10-city index and 9.1 percent for the 20-city.
Atlanta’s prices continued to slide: prices have now declined 3.4 percent from last year’s levels.
Investors should expect prices in the Atlanta area to continue to decline as buyers look for bargains, and excess REO and homebuilder inventory continue to contribute to the glut of homes on the market.
Fourth-quarter 2007 prices fell a record 8.9 percent. Year-over-year prices declined 9.8 percent for the 10-city index and 9.1 percent for the 20-city.
Atlanta’s prices continued to slide: prices have now declined 3.4 percent from last year’s levels.
Investors should expect prices in the Atlanta area to continue to decline as buyers look for bargains, and excess REO and homebuilder inventory continue to contribute to the glut of homes on the market.