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After last month’s record-breaking Atlanta residential real estate index, this month’s Cal-Culator is reflecting possible signs of a stalling recovery. The index dropped 0.1 to 6.1 due to declines in housing production, home price growth and new home sales. The South posted an alarming 30 percent drop in new home starts – though the national average dropped only 8.1 percent – and a 9.4 percent drop in month-over-month new single-family home sales.
Despite the negative trends, foreclosure levels and builder confidence have remained positive throughout 2014. Keep an eye out for the next Cal-Culator on Sept. 9. Read the full column on SaportaReport.
– Cal Haupt, Southeast Mortgage