Greetings neighbors,

According to an article in the Atlanta Business Chronicle, recovery in the Atlanta housing market will be a slow process. The lack of consumer confidence is proving to be a hindrance.

It is predicted that the housing market will start to show signs of life in the second half of 2010 and metro Atlanta builders will see some improvement. Although some improvement is in store for local builders, it will not reach 2005's market peak right away.

Metro Atlanta's housing prices have dropped from the peak of July 2007 and have landed in the early 2002 price range according to recent data from Standard & Poor’s/Case-Shiller home price index. In addition, the construction of new homes in the metro area is off by 90 percent from its peak.

New home construction is also expected to pick up in the second half of 2010.