Atlanta-Sandy Springs-Alpharetta, GA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Atlanta-Sandy Springs-Alpharetta, GA, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses in the metro area. The HPI is a valuable tool for tracking house prices at the local level over time.

Between 2000 and 2006, home prices in the Atlanta metro area more than doubled, reaching a peak of $247,000 in early 2007. Since then, prices have fallen sharply, and as of early 2016 the HPI was down to $143,000. This represents a decline of 42% from the peak.

There are several reasons why home prices in Atlanta have declined so sharply. First, the metro area was hit hard by the housing market crash of 2008. Second, job losses during the Great Recession were especially severe in Georgia, which helped to drive down demand for housing. Finally, foreclosures have been elevated in Atlanta since the housing crisis began, further depressing prices.

Despite these challenges, there are signs that the housing market in Atlanta is beginning to recover. Employment has been growing steadily since 2010 and is now back above its pre-recession level. In addition, foreclosure activity has declined significantly from its peak levels and is now below the national average. As a result of these trends, home prices have begun to rise again in recent years and are up 7% from their low point in early 2016.

Looking forward, it is difficult to predict where home prices will go next in Atlanta. However, if job growth continues and foreclosures remain low or continue to decline further, it is likely that prices will continue to rise modestly over time as demand for housing increases