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Atlanta Home Values Up in Time for Busy Spring Season

Just as the flowers begin to blossom here in Metro Atlanta, home values are rising, according to a recent report by Zillow.com. This is perfect timing for the city’s busy selling season.House made of money

aœThe housing market recovery has continued to gain momentum over the past several months and looks firmly entrenched as we enter the 2013 spring home shopping season,a according to Zillow Chief Economist Stan Humphries.

Atlanta’s average home value rose 4.1 percent to $117,500 in February, up 4.1 percent year-over-year.

Meanwhile, average rent in the area for February was $1,137, up 0.7 percent  year-over-year.

U.S. home values rose 5.8 percent to $158,100 in February year-over-year.

Humphrey’s explained, aœWe expect that rising home values will continue to help cure many of the ills still facing the housing market, including high levels of negative equity. Rising home values will free many more homeowners from negative equity, allowing some of them to list their homes for sale which, in turn, will ease supply constraints.a

Source: http://www.bizjournals.com/atlanta/news/2013/03/21/zillow-atlanta-home-values-up-4.html

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