Home prices in metro Atlanta rebounding - FOX 32 News Chicago

Home prices in metro Atlanta rebounding

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ATLANTA -

Metro Atlanta home prices are rebounding from the low levels of a few years ago. In some cases, buyers find themselves competing for homes.

A newly-released Case-Shiller Index report finds home prices in the region up by just over 19 percent from a year ago.

Stacey Seaver began searching for a home to buy a month ago in the Oak Grove and Decatur areas.

"It's definitely not a buyer's market; it's a seller's market for sure," Seaver. "When there is inventory, you have to offer higher than what the asking price is sometimes."

While many problems remain in the real estate market, the president of the Atlanta Board of Realtors told FOX 5 that a sense of urgency has returned among some buyers, especially in high-demand areas with good schools.

Seaver has even encountered a phenomenon of the boom years: builders buying properties to be torn down for new, bigger houses.

Despite the upbeat news, experts say Atlanta home prices must still cover a significant distance to regain ground lost in recent years.

The Case-Shiller report showed home prices nationally were up by about 10 percent from a year ago. Phoenix, San Francisco and Las Vegas had the biggest increases, followed by Atlanta.

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