Atlanta House Prices Drop 3.1 % for year ending September 30 2010

Atlanta House Prices Drop

Atlanta house prices continue to decline.  With the Atlanta job market remaining weak there was little hope of a recovery in 2010.  Many home owners who purchased homes in the period from 2000 to 2009 essentially have no equity as a result of the recent declines in the housing market.

 

Home sellers are starting to get discouraged as reduced prices have failed to keep up with declines in the market.  Competition from bank owned foreclosures is intense and only the most aggressive private home sellers are seeing results.

 

“House prices in metro Atlanta were down year-over-year in September, according to the Standard & Poor’s/Case-Shiller Home Price Index released Tuesday.

 

The monthly report shows prices in metro Atlanta dropped 3.1 percent from September 2009 to September 2010 and were down 1 percent from August to September.”     

 

Read more: Atlanta home prices down 3.1% in Sept. | Atlanta Business Chronicle

 

Home buyers are seeing some amazing bargainsin the market but are reluctant to pull the trigger on home purchases.  Many have anxiety about the job market and their personal job security.  As usual in times of crisis, cash is king and home buyers with cash can name their price in many instances.

 

Atlanta Houses Prices Drop 3.1 % for year ending September 30 2010