The Atlanta real estate market report for September was just released.  The report shows Atlanta home sales from September 2006 as compared to September 2007 for single family homes in Atlanta. This covers both detached and condos.

Our Atlanta MLS the First Multiple Listing Service FMLS reported there were 4,017 single family residential homes closed in September...is 39.6% decline from September 2006. Atlanta Condos & town-homes closed 611 units - a decline of 39.7%.  In September there were 7,808 expired listings and 3,028 withdrawn listings for all single family in September.  This is not a good situation to have Atlanta withdrawns and expired listings eclipse sales by a 2.5 ratio.  The Atlanta homes that are not sell for a variety of reasons.  Our Atlanta homes inventory has doubled.  We have over 116000 residential listings and homes for sale in Atlanta.  That is double a normal market. There are fewer Atlanta qualified home buyers with qualifying credit and down payments. and Atlanta has a plethora of new agents that havenever sold anything that have incorrectly priced homes too high, and they have no marketing skills.  In short, we've become a very dysfuctional real estate market.  When you consider that the Atlanta real estate market is also increasing dramtically with increasing Atlanta foreclosures each month, Foreclosures in Atlanta are exceeding sales 2 to 1.

The great news is that homes are still selling, and the interest rates are great!  It is a phenominal time to buy a home in Atlanta.. 

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