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ATLANTA, GA - May 2009 vs. May 2008
Atlanta currently ranks  in the top 10 nationally for foreclosures. And that statistic is glaring when you start to break down what the numbers actually represent.
DETACHED SINGLE FAMILY HOMES
May, 2009 3,614 DETACHED single family houses sold in the metro Atlanta area. Of these 1,620 properties were corporate owned or foreclosures - 44.8% of all DETACHED single family houses sold were distressed properties. Compare this to May, 2008 with 4,526  DETACHED single family houses selling with 1,384 properties being corporate owned or foreclosures - 30.57% of all DETACHED single family houses sold in '08 were distress properties. Foreclosure and/or corporate owned DETACHED properties sold is UP 14.5% compared to one year ago same time.  
 
ATTACHED SINGLE FAMILY  HOMES
May, 2009 551 ATTACHED single family houses sold in the metro Atlanta area. Of these, 227 properties were corporate owned or foreclosures - 41.2% of all ATTACHED single family houses sold were distressed properties. Compare this to May, 2008 with 792 ATTACHED single family houses selling with only 186 being corporate owned or foreclosures -  23.45% of all ATTACHED single family houses were distressed properties. Foreclosure and/or corporate owned ATTACHED single family properties sold is UP 18% compared to one year ago same time.
According to Steve Palm/Smart Numbers, inventory levels dropped in May 2009 reflecting 16,000 less listings compared to one ... more

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