9:37 am August 28, 2012, by David Markiewicz
Some good news in the national housing market … and some more bad news on the local scene.
Thirteen of the 20 cities in the latest S&P/Case-Shiller index of property values showed a year-over- year gain, but Atlanta isn’t one of them, Bloomberg reports.
Atlanta had the biggest year-over-year drop, in fact, with prices falling 12 percent.
Home prices in 20 U.S. cities climbed in June from a year earlier, the first gain in almost two years.
The index increased 0.5 percent from June 2011, the first gain since September 2010.
“Rising demand driven by mortgage costs close to a record low has trimmed the glut of unsold houses on the market, giving property values a lift,” Bloomberg said.
Get inside Atlanta's and national business news and how it affects you.
Vacation stops, manage subscriptions and more