Our most recent Metro area Atlanta real estatestatistics were just released by our FMLS on July 21,2009.  These statistics are not for the city of Atlanta, but for our Metro Atlanta MLS coverage.  There are some interesting trends.  I have created a 5 year graph so that you can see what is really at play in our Atlanta real state market for single family Atlanta homes.

Many times we look at reports and feel there is a lot of good news in them.  We need to keep in mind that one month of increase for Atlanta homes does not constitute a trend.  Normally we have to see 6 months or better to determine what is really happening in the market.  In the Atlanta real estate market we are definitely in a correction phase that needs to be looked at an understood.  The longer term trends for Atlanta homes prices in detached single family homes is not a positive one.  In spite of lower mortgage rates Atlanta is still dealing with major job losses and rising unemployment state wide which is sapping the confidence out of our local economy and replacing them with fear and apprehension from buyers.  Home owners need to realize it does not matter what they paid for their home a few years ago, but rather what is is going for right now.  If you have to sell it is not going to be a pretty picture right now.  The market is dealing with a "Distressed property syndrome" for the fewer buyers that are out there.  Buyers want a bargain - end of story!