Home prices in Atlanta continued to get more affordable during the first quarter, as the local housing market maintained a high level of distressed property saturation.
According to a recent report from Clear Capital, home prices in the area fell 2.9 percent in the first quarter from the previous three-month period. On an annual basis, the report noted than prices in the local marketplace had plummeted 17.7 percent.
This is a result of a high-level of real estate-owned property saturation, the report said. These distressed properties often add downward pressure to overall home prices, and this is no different for the Atlanta market where the saturation rate was recorded at 46.6 percent at the end of March.
While this can be viewed as a negative for current homeowners, there are numerous bargains to be found on these properties. At the peak of the housing market, many entry-level buyers may have found themselves priced out of purchasing a house, but as prices continue to get more affordable, it has become less of a financial undertaking to invest in a home for sale in Atlanta.