Metro Atlanta home sales continued to trend upward in the second quarter, fueled by the homebuyer tax credit and continued downward pressure on home prices. As a result, metro Atlanta housing inventory is at its lowest level since July 2005. Sales in Atlanta’s most affluent areas outpaced the rest of metro Atlanta in the second quarter of 2010 versus the same quarter in 2009. The Beacham Bellwether Index of Atlanta’s 10 most affluent areas was up 25% compared to 15% for the rest of metro Atlanta. Home prices remained weak, although prices were down less in The Beacham Bellwether Index (-8% compared to -11% for metro Atlanta).
