Atlanta Home Prices one of first to rebound in '09

According to projections from the National Association of Realtors and Moody's Economy.com Atlanta should be one of the first metro areas to see a rebound in home prices in 2009 and 2010. In a study of the top 100 markets in the country only 2 are expected to show gains in 2010, McAllen Mission, Texas and New Orleans. Of the top 10 largest metropolitan areas in the U.S., where Atlanta ranks 9th (2007 U.S. Census Bureau), only Dallas and Houston are predicted to hold on better to home prices.

In addition, the median home price in Atlanta is $155,630 which is the 2nd lowest of the top 10 cities and more than 200% less than the New York City area which boasts an average home price of $481,890.

Below are the 10 largest metropolitan areas in the U.S. and the expected change in home prices in 2009 and 2010.

City ............Med Price .........2009......... 2010

New York........$481,890........-15.2%........... -3.5%
Los Angeles.....$375,340........-24.9%...........-5.1%
Chicago...........$258,860..........-6.8%...........-0.2%
Dallas..............$157,190...........-1.2%.............2.3%
Philadelphia...$227,780..........-9.5%...........-1.5%
Houston..........$151,110.............-2.3%............1.7%
Miami.............$293,590..........-22.8%..........-6.4%
Was D.C. ........$343,160..........-19.9%..........-5.7%
Atlanta............$155,630...........-3.2%...........0.9%
Boston.............$360,830.........-15.4%..........-1.0%