Good news, Atlantans! Atlanta is well on its way to a healthier real estate market. According to new data from Zillow.com, the metro Atlanta housing market was a bit healthier than the national real estate market in the month of April. Metro Atlanta home values averaged $140,300 in April, up 15 percent over April 2013, but only 0.9 percent over March 2014.
National home values in April were down 0.1 percent from March to a Zillow Home Value Index of $170,200 — the first monthly decline in more than two years. Year-over-year, U.S. home values rose 5.3 percent in April.
Although this is great news, we can only imagine what the good news would be if the inventory matched the number of willing and able buyers. Local supply has not kept up with the demand, leading to bidding wars and often frustrated buyers. The silver lining is that time can help sellers build their way out of negative equity, leading to more homes being listed and more happy buyers and sellers.