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The most recent Standard & Poor's/Case-Shiller Home Price Indices revealed good news for the Atlanta real estate market, which has continued to struggle the last several years following the recession.
According to the report, prices of homes for sale in Atlanta grew 1.5 percent between April and June compared to the previous quarter. Quarterly improvement has now become a trend, as prices were up 1 percent during the year's first three months as well. In fact, of the 20 metropolitan statistical areas surveyed by the report, Atlanta's growth is among the better improvements. Minneapolis and Chicago led the nation, with prices increasing by 3.2 percent.
Nationally, the price index was up 3.6 percent during the quarter. However, it was still 5.9 percent below its level in 2010.
"This month's report showed mixed signals for recovery in home prices," said David Blitzer, chairman of the Index Committee at S&P Indices. "No cities made new lows in June 2011, and the majority of cities are seeing improved annual rates. The National Index was up 3.6 percent from the 2011 first quarter, but down 5.9 percent compared to a year-ago."
According to the report, 12 of the 20 MSAs surveyed have now posted three consecutive moths of positive monthly gains, which could signal returning strength for the struggling national housing market.
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