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3 Keys Pointing to Atlanta Housing Recovery

Posted by Terry Burger on Thursday, June 25th, 2009 at 11:14am.

Read an article written today from SmartNumbers, a local research firm that assembles and interprets real estate data in Atlanta. Based on the statistical information in that letter, there are several reasons to believe that the Atlanta housing market is recovering, in spite of almost 10% unemployment.

1) 3 straight months of increased sales prices for single family detached housing.

2) Inventory is shrinking. In May of 2009, there are 53,081 properties (homes, condos, land, commercial)  for sale verses 69,638 in May of 2008. That's a 24% reduction in inventory in 12 months. 

3) 6 straight months of pending sales increases for SINGLE FAMILY DETACHED HOUSING. 

ATLANTA DETACHED SINGLE FAMILY PENDING SALES

Month	Pending Sales Totals
November 2008	2803
December 2008	2827
January 2009	3182
February 2009	3349
March 2009	4110
April 2009	4236
May 2009	4429

 

Want to see how popular Atlanta has become? The table below shows 10 years of May inventory.

 

ATLANTA SINGLE FAMILY MAY INVENTORY 1999-2009

May 99	May 00	May '01	May '02	May '03	May '04	May '05	May '06	May '07	May '08	May '09
15,793	20,026	26,484	32,658	37,937	42,425	43,755	51,527	68,340	69,638	53,081

 

 

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