Bad news: Home prices in the metro Atlanta area were among the nation's slowest growing in July. Good news: They've still increased by nearly 20 percent in the last year. New data released in the latest report from S&P/Case-Shiller suggests that the ATL (2.2 percent growth, down from 3.4) and Cleveland (0.5 percent, down from 2) had the slowest month-over-month increases in home prices in July. All that sounds discouraging, if not confusing as hell, but fear not — 13 more of the 20 cities tracked also saw decreases in growth.
Between July '12 and July '13, home prices in metro Atlanta jumped a healthy 18.5 percent, compared to the national average of 12.4 percent growth. Earlier this year, as the AJC reported, the city's homes had regained three years of value in 12 months. Overall, the housing market continues to revive itself in Atlanta — just not quite at the rate it had been. "Higher mortgage rates are cutting demand, thereby decreasing pressure on prices," as the Wall Street Journal put it.
— By Curbed Atlanta contributor Tyler Estep
· Cleveland, Atlanta among cities where home-price growth is slowing [WSJ]
· S&P/Case-Shiller Home Price Indices [Study]
· Metro Atlanta housing prices rise steeply [AJC]