Home prices continued to fall in the Atlanta market at the beginning of 2012. While this is a troubling development for current homeowners in the city, it makes the prospect of purchasing a home much more affordable for potential buyers.
According to the most recent Standard & Poor's/Case-Shiller Home Price Index, home values in Atlanta fell 2.1 percent in January from the previous month, while falling 19.1 percent from six months earlier.
"Atlanta continues to stand out in terms of recent relative weakness," the report said. "It was down 2.1 percent over the month, and has fallen by a cumulative 19.7 percent over the last six months. It also posted the worst annual return, down 14.8 percent."
The Atlanta housing market has been one of the hardest hit areas in the wake of the housing market collapse. However, recent improvement in the city's employment could add some strength to the local real estate industry. Purchasing a home for sale in Atlanta while prices are low and mortgage rates are affordable could make this this move a profitable investment.
