Article via:
Jacques Couret
Senior Online Editor- Atlanta Business Chronicle
Metro Atlanta saw double-digit home values appreciation in July, the monthly Zillow Home Value Index shows.
The average home value here was $123,900 -- up 10.1 percent compared with July 2012 and up 2.2 percent from June 2013.
Nationally, home values grew 6 percent year-over-year in July, marking the 14th straight month of annual appreciation and the first time year-over-year appreciation rates have reached 6 percent since 2006. The average U.S. home is worth $161,600.
“After three straight months of annual home value appreciation above 5 percent, the U.S. housing market recovery has proven it is on very sound footing,” said Zillow Chief Economist Stan Humphries, in a statement. “We have entered a new phase in the recovery when we can begin to turn away from ugly recent history and turn toward what the housing market of the future will look like and how it will act. The time to have these discussions is now, and recent efforts by President Obama and both parties in the House and Senate to begin addressing still-lingering structural issues related to housing finance are very encouraging.”
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