Hello Neighbors,

With home prices decreasing, it seems as if the housing market may be following suite of the current economy. According to recent numbers from the National Association of Realtors, metro Atlanta's medium home prices fell 14.5 percent during the third quarter.

Last year, third quarter prices for a single family home were at $151,300 for the metro Atlanta area and this year prices are at $129,400 for the third quarter. On a national level, the median price for a single family home is $177,500 which is actually 11.2 percent lower than last year at this time.

Some factors that contributed to the decrease in home sales included distressed sales, foreclosures, and short sales which counted for at least 30% percent of transactions during third quarter.

With the decrease in prices, the obvious has taken place and that's an increase in sales. In the south alone, home sales rose 11.3 percent and prices continue to rise in most states.

Are you or someone you know in the market for buying a home? Search all local Atlana homes for sale at www.BestMetroAtlantaHomeSearch.com