Atlanta home prices slip in September, up year over year

 Metro Atlanta home prices dipped in September as the summer sales faded, but were up from a year ago, according to a report issued this morning by a national real estate data firm.

For the month, prices slipped 0.3 percent, but compared to September 2014, prices were up 6.1 percent, according to California-based CoreLogic.

Atlanta’s price rise was somewhat stronger than the state as a whole, the report said: Georgia prices were up 5.8 percent.

However, Atlanta’s increase was slightly less than the national average of 6.4 percent and below several other metro areas, including Dallas, which scored an 8.5 percent annual increase, metro New York which was up 7.2 percent and Houston, where prices rose 7 percent.

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“After nearly 10 years of very high home price volatility, home price increases have been remarkably stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase,” said Sam Khater, deputy chief economist for CoreLogic. “Home price volatility is now back to the long-term trend prior to the boom and bust which is a good barometer of the market’s stability and health.”

Distressed properties – still an issue even eight years after the burst of the housing bubble in Atlanta – were included in the calculation, according to CoreLogic.

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