Every month, FMLS relesaes a cover sheet to go with their lengthy report on Atlanta real estate market statistics and the latest on home prices, how many homes came on the market, how many sold, expired, withdrew, etc. Below is a snippit from that cover letter. Please click here to read the full summary of Atlanta real estate market statistics!

February had 345 closings for single family attached or a decline of 50.4% from February 2008. With so much newconstruction condo inventory ready to hit the market in 2009, the lending industry will need to loosen their lending restrictions or there will be a lot of empty high rise condos in Atlanta.

The months supply of new construction condos & townhomes was 21.0 at the end of February. If the total of all units coming on the market in 2009 was included in the statistic the number of months would probably triple.

There were 2,411 closings for single family detached in February. This is a decline of 34.6% from the same year ago period and the 14

 

th percentage year-to-year monthly decline of 20% or more in the past 18 periods.