5:43 am March 30, 2011, by Henry Unger
An index measuring metro Atlanta home prices slid to its lowest point in 11 years in January, AJC reporter Michelle Shaw writes.
According to the latest Standard & Poor’s Case-Shiller Index, existing single-family home sale prices declined by nearly 7 percent in January compared with the same month in 2010, Shaw reports.
Atlanta’s index sagged to 99.59, just below the 100 benchmark score representing prices at the start of 2000. It was the first time metro Atlanta’s score was below 100 since December 1999, Shaw writes.
Nationally, the 20-City index fell 3.1 percent in January from a year earlier, Shaw reports.
“Looking across some of the markets, we see that . . . Atlanta has joined Cleveland, Detroit and Las Vegas as markets where average home prices are now below their January 2000 levels,” 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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