Standard & Poor/Case-Shiller tracks residential home price changes, month by month, in 20 metropolitan regions across the United States. We have figures for the Atlanta housing market going back to 1991. In past years sellers have always asked how much annual appreciation their homes have had. If you look at the Case-Shiller numbers, the “average of 3% per year” we’ve used is pretty close.
Since the height of the market in July of 2007, Case-Shiller has been tracking the downturn … percentages that dropped more steeply than any of us anticipated.
We use the Case-Shiller analysis as a tool (one of several) when we recommend an initial list price or, if a home has sat on the market “too long,” an adjusted list price.
Statistics are important as a guideline to home pricing, but there is no substitute for the careful research and evaluation done by an experienced real estate professional.
These days it is rocket science … really!
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