Need additional evidence that Atlanta’s home prices are at near all-time highs while the economy is at an all-time low? Our newly updated Case-Shiller Index dashboard (below) shows how the Atlanta home market has changed over time and how our change in index value compares to other cities. The index is normalized to a value of 100 as of January 2000, meaning that all the cities “started” from that value at that point in time.
In the dashboard, the top chart tracks Atlanta’s index values from January 2006 through the time of our most recent data update. We can see that, after hitting a low of 82.5 in March of 2012, it took the Atlanta market until late Spring of 2017 to return to levels near the pre-2008 “housing bubble” peak of July 2007 (136.47). Since that time, Atlanta has climbed even higher- to a current (December 2020) index score of 168.58. The second chart below shows how the 32.1 point increase from our pre-Great Recession peak compares to other metros, and as we can see, Atlanta is firmly in the middle of the ranking for increases. Intriguingly, some of the smallest and even negative changes occurred in what many would consider “real estate superstar” cities – New York; Washington, D.C.; Phoenix; Miami; Chicago and Las Vegas.