5:34 am February 24, 2010, by Henry Unger
Stability appears to be returning to our housing market, although it’s still hurting.
AJC reporter Michelle Shaw writes that Atlanta’s average price in December fell nearly 1 percent over November, according to Standard & Poor’s Case-Shiller Index. But that slight decrease shouldn’t be seen as a negative, said Cameron Findlay, chief economist for LendingTree.com.
“You want to see that,” he said. “You don’t want to see huge spikes in value changes, which we are seeing in other places.”
Findlay said Atlanta’s trend is “nice and even” and its continuous improvement will be attractive to investors and consumers.
Another good sign — the year-over-year price difference shrunk to 4 percent in December, Shaw writes.
Since June, the year-over-year gap has steadily declined. In June, prices were 14 percent lower than a year earlier. By August that number was 11 percent, and by November, 6 percent, Shaw reports.
“It doesn’t mean all is well, but that the precipitous declines are likely behind us,” said Adam York, an ecomonist for Wells Fargo Securities.
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