Home price trends in Atlanta

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City-by-city price comps

Choices abound for buyers, from resales and new homes with bold price cuts to large numbers of foreclosures. Affordability is at its highest level in nearly three decades, according to John Burns Real Estate Consulting. Entry-level buyers are prominent. The firm expects existing home sales to begin to flatten this year, but at lower prices and not bottoming until 2011. Permit levels are less than one-quarter of construction levels in the peak years of 2004 and 2005.

Median price end of 2008: $129,200
Median price end of 2007: $164,300
Percent change: -21.4%
Projected change through Q3 2009: -4.5%
Affordability rating: 0
Foreclosures in 2008:
(1 for every 31 households)
Foreclosures in 2007:
(1 for every 40 households)
Change in foreclosures: 33.3%
Expected to hit bottom: Q4 2009
Percent drop needed to reach bottom: -14.1%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $154,000
Q2 2008 local median price: $158,300
Q3 2008 local median price: $151,300
Q4 2008 local median price: $129,200

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