Home prices in Atlanta are showing market improvement that homeowners and real estate agents alike are celebrating. Atlanta real estate veteran Mitch Kaminer, president of the Atlanta Board of Realtors, says agents are seeing better market conditions after several years of trouble. The group reports metro home sales were up 3.2 percent in July from a year ago, with the median sales price at $150,000 compared to $139,000 last July.
"Prices are coming back. They are bouncing back, some areas more than others," said Kaminer. September was the fourth straight month of home price improvements in the metro area. Even though prices are still down from 2011, indications of at least a modest recovery are encouraging home sellers.
Kaminer says stronger prices also reflect diminishing foreclosure sales. "Everyone agrees we hit bottom. Now we're riding it up and it's going to take baby steps to get up there, but we will," said Kaminer.
Real estate agents say metro home prices show stronger gains in several areas including Alpharetta, Roswell, Sandy Springs and Dunwoody. To watch the full-coverage video, click here.