Real estate market showing signs of improvement - DC News FOX 5 DC WTTG

Real estate market showing signs of improvement

Posted: Updated:
ATLANTA -

Home prices in the metro Atlanta area show improvement for another month. Homeowners and real estate agents hope the trend will continue.

Atlanta real estate veteran Mitch Kaminer says agents are seeing better market conditions after several years of trouble. He's president of the Atlanta Board of Realtors.

The group reports metro home sales were up 3.2 percent in July from a year ago, with the median sales price at $150,000 compared to $139,000 last July.

"Prices are coming back. They are bouncing back, some areas more than others. Some areas were hit more than others," said Kaminer.

This is the fourth straight month of home price improvements in the metro area, but prices are still down from a year ago. Still, the indications of at least a modest recovery are encouraging for home sellers.

"It seems that houses are priced to sell…Although we know that we will lose money compared to what we bought it for five years ago, we're hoping that we're get a good, solid offer," said Walker Luedecke, whose home is on the market in Brookhaven.

Kaminer says stronger prices also reflect diminishing foreclosure sales.

"Everyone agrees we hit bottom. Now we're riding it up and it's going to take baby steps to get up there, but we will," said Kaminer.

Real estate agents say metro home prices show stronger gains in several areas including Alpharetta, Roswell, Sandy Springs and Dunwoody.

  • More Local NewsMore>>

  • Man leads Rockdale Deputies on 100mph chase

    Man leads Rockdale Deputies on 100mph chase

    Wednesday, April 23 2014 3:20 PM EDT2014-04-23 19:20:03 GMT
    A South Carolina man fleeing from deputies crashed his car and had to be pulled from the wreckage after it burst into flames.
    A South Carolina man fleeing from deputies crashed his car and had to be pulled from the wreckage after it burst into flames.
  • Manchester High evacuated over 'text message' bomb threat

    Manchester High evacuated over 'text message' bomb threat

    Wednesday, April 23 2014 12:36 PM EDT2014-04-23 16:36:51 GMT
    Students at Manchester High School were evacuated from the building late Wednesday morning following a reported bomb threat.
    Students at Manchester High School were evacuated from the building late Wednesday morning following a reported bomb threat.
  • Use of force 'not justified' in officer shooting of Bartow teen

    Use of force 'not justified' in officer shooting of Bartow teen

    Wednesday, April 23 2014 11:20 AM EDT2014-04-23 15:20:30 GMT
    A Bartow County Grand Jury has stated that the use of deadly force in the February shooting of a teen was 'not justified'. Christopher Roupe, 17, was fatally shot by Euharlee officer who claimed the teen answered the door with a gun.
    A Bartow County Grand Jury has stated that the use of deadly force in the February shooting of a teen was 'not justified'. Christopher Roupe, 17, was fatally shot by Euharlee officer who claimed the teen answered the door with a gun.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices