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If April Showers Bring May Flowers …

pilgrim

For those that have not seen this video, or for those who have not visited our YouTube channel, here's one last look at the 4th quarter 2008 video and a promise that we'll have the 1st quarter 2009 video completed by mid-May. We get the latest charts and graphs, from Chartmaster Chuck, next week. In the meantime, here is a 3 point summary of what's happening with the Atlanta real estate market, right now. I base this on the most recent letter dated 4/21 from Steve Palm at Smart Numbers: 1. Closings for Single family detached are down 23.3% and are down 34.4% for single family attached for March 2009 versus March 2008. Single family attached is down more than 50% from March 2006, 512 closings versus 1,158. 2. The average sale price for single family detached was $183,800 for March 2009. This is down 22.9% from March 2008 and also the highest average so far in 2009. 3. If the banks can loosen their grip on lending this market will definitely head up. My caution to buyers … [Read more...]