Power Breakfast: Metro home prices fall, school cuts, Pepsi, Coke, Kia, Goldman

Metro Atlanta’s housing market still has a long way to go.

Declining prices of existing single-family homes across metro Atlanta have set a disturbing three-month trend, AJC reporter Michelle Shaw writes.

The median sale price for existing single-family homes fell 2 percent in March, to $113,600, when compared to the year before, according to a National Association of Realtors report released Thursday.

The decline is an improvement on the 10 percent year-over-year drop in prices seen in January and the 4 percent loss in February.

Though the median price for March did not fall as far as in the previous two months, the metro area could not afford to lose any ground while sales have been surging nationwide, Steve Palm, president of  SmartNumbers, told Shaw.

“We’ve got to make some major improvements and do it fast,” he said. “We need the April numbers to be really good so we can get a good start on the second quarter.”

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4 comments Add your comment

outspoken1

April 23rd, 2010
7:48 am

I like grapefruit and yogurt for breakfast.

TnGelding

April 23rd, 2010
8:07 am

And exactly why do we need that? People paid too much for homes and naturally the price is going to come down. Throw in foreclosures and the problem is exacerbated. Why builders continue to add new inventory is beyond me.

Morrus

April 23rd, 2010
8:12 am

Vote out the incumbents and start over

Gov't benefits

April 25th, 2010
9:56 am

The government should start paying my mortgage—it’s too expensive for me to pay. I’m tired of it.