The most recent set of sttistics for Atlanta Condos and Attached home sales was just released on April 21, 2009. It is not really showing us anything we do not know about the Atlanta real estate market, but does show us in concrete forms the trends. Thew trends are not good for attached housing in price, the nuber of sales, and the time it will take to sell them. It has been said recenly at the current rate of sales with new projects coming online in Atlanta it would take 40 years to sell the excess of inventory. Since the lower lending rates and stimulus monies do not seem to be helping, that does not bode well for Metro Atlanta condos. Sals of Atlanta condos have decreased 56% from the peak in sales in March of 2006.
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Jim, I guess the positive side of having 40 years of inventory is not having to be concerned about having something to sell : ) But then one might be a bit concerned about finding the buyers for all that inventory.
Wow Jim, You have to love statistics. I like to see an upward trend anyway!
John Mulkey, Housing Guru (TheHousingGuru.com) It sure does not make me want to rush out and get a lot of condo listings.
Paul Henderson, Realtor ® Lacey & Dupont Washington homes (RE/MAX Professionals & Four Seasons Inc.) LOL! It is all uphill from here.
I get soooo tired of hearing people in Louisville complain about the local housing market. Our charts don't look anything like this and I know Atlanta isn't the worst of the worst. Good Luck!
Jim,
There is always a bright side. This time from John Mulkey. What does a 40 year absorption rate look like on a chart?
Richard
Erik Hitzelberger, --Louisville-Bullitt County Real Estate (RE/MAX Alliance) I often say that if we are number 8 in foreclosures nationally, I would not want to see the first 7!
Richard Smith Mortgages Home Loans FHA TN GA AL (American Acceptance Mortgage, Inc) That is a good one! It probably look like a right angle.