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Has Atlanta’s housing market hit the bottom?

This recent article from Forbes states that  “national home price data indicates that the worst of the catastrophic home price implosion is behind us.” The folks at Local Market Monitor, a Cary, N.C.-based real estate research firm, helped Forbes compile a list of the top ten markets poised for a rebound. “They sorted through a plethora of housing and economic data for the 100 most populous cities and their surrounding suburbs, defined as Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSADs) by the U.S. Office of Management and Budget. LMM assessed home prices over the past 12 months, unemployment rates, 12-month job growth projections, population increases from 2006 through 2009 (the most recent data available from the U.S.Census) and new-home construction rates for the third quarter of 2011 as compared to the same quarter in 2010. Home price changes over the past three years were also taken into account, as markets that lost less value in the downturn … [Read more...]