ATLANTA GA - MARCH 2010 MARKET REPORT

The Atlanta real estate market continues to have twists and turns. With the end in sight for the housing tax credits, it was anticipated there would be a higher jump in activity as the clock clicks downward....not so much. Closings for all single family homes was up only 8% from one year ago.

According to Steve Palm with Smart Numbers:

• There was a surge of homes going under contract for the month of March. So it seems reasonable to expect that closings, particularly for April will see an increase compared to April 2009.
• Inventory levels also seem to be hitting more of a "seasonal" norm for the Atlanta market.
• And, new construction seems to be on the rebound - Metro Atlanta permits are up almost 50% the first quarter of 2010 compared to first quarter 2009 - 1900 permits issued first quarter 2010 vs. 1270 permits first quarter 2009.

So after the last few years being in a tail spin it may be true what the experts are saying...."We have seen the bottom." How long it will take to see a full recovery - as in property values etc. only time will tell.

Here is a look at the numbers for metro Atlanta for March 2010:

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