In February the Case-Shiller home price index dropped four the eighth month in a row. Year over year prices were up in only one of the markets covered, Washington DC. Home prices in Atlanta are at their lowest point since the recession began. Atlanta house prices are down 5.8% from a year ago. Atlanta prices are down 26.3% from the national peak in July of 2006. Values in Atlanta are now 5.6% below the previous national recession low in April of 2009.
National real estate investor online reports that interest only loans are back in a big way. 24% of all loans that were securitized during the first quarter had some sort of interest only period. As they say, what goes around comes around.
