Atlanta home values rose by $35.6 billion last year

    The value of all the homes in metro Atlanta is expected to end 2014 at $373 billion, a 10.5 percent increase from last year, according to Zillow.

    atl skylineThe top five markets where home values jumped the most year-over-year are:

    1. Miami (13.6 percent)
    2. Atlanta(12.8 percent)
    3. Houston (11.9 percent )
    4. Orlando, Fla. (11.9 percent )
    5. Las Vegas (11.5 percent)

    “Looking at the total value of the U.S. housing stock proves just how huge and important the housing sector is to the overall economy,” Zillow Chief Economist Dr. Stan Humphries, said in a statement. “Virtually nowhere else will you see gains of more than a trillion dollars in one year represent only single-digit percentages of the total market.”

    The cumulative increase in home values is slightly smaller than 2013’s 8 percent increase, and that kind of gradual slowing is a sign of the times as the market heads for slower expected gains in 2015. Over the second half of 2014, inventory[i] increased in many U.S. markets and, with more homes on the market, home value appreciation slowed.

    Looking ahead, as more homes come on the market, growth in home values is expected to slow, to a 2.4 percent pace through November 2015, according to the Zillow Home Value Forecast.

    There were 11.8 percent more homes for sale in November 2014 than a year prior, but inventory fell slightly in many major markets from October to November. The cumulative increase in home values is slightly smaller than 2013’s 8 percent increase, and that kind of gradual slowing is a sign of the times as the market heads for slower expected gains in 2015. Over the second half of 2014, inventory increased in many U.S. markets and, with more homes on the market, home value appreciation slowed.

    Humphries added as we conclude 2014 and look ahead at 2015 and beyond, housing will play a bigger role in the broader economic recovery.

    “As the job market improves and more households form, more people will search for homes to buy and rent, which will translate into more people buying appliances and home goods and lead to more jobs for home builders and contractors,” he said. “Housing is well positioned to continue the great strides already made this year.”

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