5:06 am February 23, 2011, by Henry Unger
The stabilizing housing market many experts saw a year ago seems to have been built on sand, AJC reporter Michelle Shaw writes.
New data released Tuesday showed another monthly decline in home prices, with values in metro Atlanta and 10 other markets falling to new lows since the housing bubble burst in 2006 and 2007, Shaw reports.
Metro Atlanta values were down 8 percent in December from the same month in 2009, according to the Standard & Poor’s Case-Shiller Index, Shaw writes.
The metro region is now 26.7 percent below its July 2007 index peak, Shaw reports.
“Despite improvements in the overall economy, housing continues to drift lower and weaker,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.
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- Henry Unger, The Biz Beat
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