Power Breakfast: Home prices stabilizing, transportation, Falcons, bankruptcies, education cuts, oil drilling

Metro Atlanta’s housing market continues to show signs of stability, AJC reporter Michelle Shaw writes.

Though prices fell slightly in January, when compared to the year before, the gap between those values has been shrinking for the past several months, according to a new report.

The Standard & Poor’s Case-Shiller Index, released Tuesday, showed seasonally adjusted metro Atlanta prices fell 2 percent in January from the year before and were virtually unchanged from December.

“With numbers like this, we’re going to have a super robust second quarter,” Steve Palm, president of Marietta-based SmartNumbers, told Shaw. “And I’m talking 20-30 percent up for the second quarter over 2009, to avoid a double-dip recession.”

Palm also believes the federal housing credit will help attain that goal, Shaw writes. Home buyers who qualify for the credit must have their home under contract by the end of April and close the deal by the end of June.

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3 comments Add your comment

Beelzebubba - Demon of the South

March 31st, 2010
8:40 am

Yah us. Does Michelle have any stock she recommends?

TnGelding

March 31st, 2010
9:18 am

Well, we might as well be optimistic. It can’t hurt. But don’t bet on it.

Brad Steel

March 31st, 2010
3:28 pm

Well with a tax credit, mortgage deduction, and the Fed artificially lowering interest rates by buying mortgage-back securities, one would hope that these taxpayer-paid give-aways would provide the welfare that homebuyers and the housing industry needs.