The Beacham Insider – October 2009

The Beacham Insider October 2009Metro Atlanta home sales were up 3.3% in August, led by a whopping 19% jump in condo sales (single family detached home sales were up 1%). August was the second month in the last three in which home sales have increased. Pending sales were up 56% year-over-year following a jump of 29% in July.

Nationally, pending sales are at their highest level in two years. Metro Atlanta home prices remain soft however, and were down 16% in August. For the year, prices are down 18% year-to-date. The decline in August was the 21st consecutive monthly year-over-year decline in Atlanta prices. With metro Atlanta housing inventory at its lowest level since March 2006, prices are expected to recover sometime in 2010. One Beacham Bellwether area has outperformed the others in 2009: The area of Buckhead north of Chastain Park where sales are up 6% in 2009.

Click here to read more in the October 2009 issue of The Beacham Insider.