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The results for the Atlanta real estate market were mixed for the month of May. The number of homes CLOSED were up - speculation, of course, this is a result of the First Time Home Buyer Tax Credit but PENDING sales are down. According to Steve Palm with Smart Numbers "under contracts for all single family declined almost 22% in May 2010 vs. May 2009." (June 20, 2010). The Atlanta real estate market continues to struggle. However there is, as you will see, a substantial dip in the number of foreclosure sales both in detached and attached single family homes (21% and 27% respectively). I still hear the buzz that banks are holding back, working on loan modifications etc. We are seeing a definite increase in the OH SO FAMOUS - Short Sale. Not a road to travel down for the weary home buyer that is for sure. Collectively in the real estate market, I think we are seeing more real estate agents scratching their heads wondering when will this ever end. Unemployment for Atlanta still remains high, new construction is still down providing less new home options to buyers. In fact, I had a buyer in town this past week looking for a home in the Suwanee area. Their preference was up to $260,000 "new construction." I had two neighborhoods to show him - that's it. Ryland Homes has, surprisingly, started a new development in Suwanee; but, I will be interested to see how many spec homes actually get started. Three Bridges is a gated mix community of manor homes and town homes. Because the builder has independent investors, they also continue to build - They build one; sell it; build another - one home at a time. Probably safest method until we begin to at least see a glimmer of light at the end of the tunnel. But the sun will continue to come up and it is important to stay focused and positive. This business is not for the weak at heart that is for sure. And if you are a buyer or seller who has stepped out in the real estate arena: be informed, be patient and most of all be realistic in your expectations. The good news is......interest rates are still great!!! See! There is something to smile about!!! Let's take a look at Atlanta's real estate market for 2010 
Anyone involved in the real estate market in Atlanta had reason to smile as April 2010 closed out. While lag reporting is still coming in, the closings thus far in the month of April for the metro Atlanta market was sporting a year-to-year double digit increase at 12.2% for all single family closings (stats provided by SmartNumbers/Steve Palm).So far it all looks good! And there are some making the prediction that Atlanta has seen the bottom. And, I surely hope that is true. However, one compelling factor remains - our unemployment remains at over 10%. That doesn't bode well, in my opinion, for our real estate market. The First Time Home Buyer Credit has come to a close. So it has been no surprise to see the first quarter of this year......and, April begin to hit positive increases as everyone scrambled to the finish line. I speculate that the TRUE numbers will begin to show themselves throughout the second quarter and into the third. I, for one, truly hope those predicting better days ahead for the metro Atlanta housing market are right. Here is April 2010 Market Report:
ATLANTA GA - MARCH 2010 MARKET REPORT  The Atlanta real estate market continues to have twists and turns. With the end in sight for the housing tax credits, it was anticipated there would be a higher jump in activity as the clock clicks downward....not so much. Closings for all single family homes was up only 8% from one year ago.
According to Steve Palm with Smart Numbers: - There was a surge of homes going under contract for the month of March. So it seems reasonable to expect that closings, particularly for April will see an increase compared to April 2009.
- Inventory levels also seem to be hitting more of a "seasonal" norm for the Atlanta market.
- And, new construction seems to be on the rebound - Metro Atlanta permits are up almost 50% the first quarter of 2010 compared to first quarter 2009 - 1900 permits issued first quarter 2010 vs. 1270 permits first quarter 2009.
So after the last few years being in a tail spin it may be true what the experts are saying...."We have seen the bottom." How long it will take to see a full recovery - as in property values etc. only time will tell. Here is a look at the numbers for metro Atlanta for March 2010:
ATLANTA MARKET REPORT - February, 2010  The sun shined down on the metro Atlanta real estate market for February, 2010 with a positive year-to-year increase according to Steve Palm of Smart Numbers. Although the increase was slight, 1.6% ....the news is still promising.
 Additionally, according to the Case Shiller Index, our metro Atlanta market hit "bottom" in March 2009. And since that time, Case Shiller is reporting metro atlanta home values have risen 5.8%. As for our new home inventory, it is at an all time low. And, although we are beginning to see a few (a very few) builders begin developing new subdivisions (at least in the gwinnett County/suwanee area) new construction inventory is not expected to return anytime soon; and as a result, this is helping to absorb our foreclosure, short sale and resale inventory.
 What the future holds for metro Atlanta's real estate market is yet to be seen. Although in a recent blog post I wrote, I spoke to the predictions from the Census Bureau saying Atlanta will lead the nation in job growth and Fortune Magazine points to a substantial growth in our population. These are all good indicators for a strong housing market. However on the flipside as a result of excessive federal government spending and our high national debt we may be poised for potential inflation which in turn will result in higher interest rates.. And higher interest rates could potentially put the breaks on any housing recovery.
 Here is what we do know: The First Time Homebuyer tax Credit and the Seller Tax Credit ends April 30, 2010. These will not be repeated and will not be extended. So the overall concensus for metro Atlanta's real estate market in March and April is that we will see an increase in demand and overall sales.
And, as you see February, 2010 ended up looking pretty good.
 We are off and running. January, 2010 is now just a distant memory. And, for the Atlanta real estate market, January, 2010 left behind the lowest number of closings in a month during the past nine (9) years (Steve Palm/Smart Numbers, Marietta GA January 2010 Agent Report).
And, the foreclosure market in Atlanta seems to be taking a break. We saw just over 8100 foreclosure filings for the month of January. Seems hard to imagine that we see that figure as good news. Gwinnett County came in second with 1,196 foreclosure fiillngs according to Realty Trac. And, according to Steve Palm with Smart Numbers we will see l00's of new construction foreclosed condos hitting the Atlanta market during 2010. Despite this news, the predictions are we are likely to see foreclosures take a back seat to short sales. It is a tedious and time consuming process when you make the choice to place an offer on a short sale property; however, we will see changes during the second quarter this year on how short sales are handled so with any luck the change will bring about a more expedient and stream lined process....we can only hope. Here is a look at January, 2010 
ADDITIONAL MARKET REPORTS: 2009
Atlanta GA - Metro Atlanta December 2009 in Review
Atlanta GA - Metro Atlanta November, 2009 in Review
Atlanta GA - Metro Atlanta October, 2009 in Review
Atlanta GA - Metro Atlanta September 2009 in Review
Atlanta GA - Metro Atlanta, July & August 2009 in Review
Atlanta GA - Metro Atlanta, June 2009 in Review
Atlanta GA - Metro Atlanta, May 2009 in Review
Atlanta GA - Metro Atlanta, April 2009 in Review
Atlanta GA - Metro Atlanta, March 2009 in Review
Atlanta GA - Metro Atlanta, March, 2009 in Review
Atlanta GA - Metro Atlanta, February, 2009 in Review
Atlanta GA - Metro Atlanta January, 2009 in Review
2008
Atlanta GA - Metro Atlanta December, 2008 in Review
Atlanta GA - Metro November, 2008 in Review
Atlanta GA - Metro Atlanta October, 2008 in Review
Atlanta GA - Metro Atlanta September 2008 in Review
Atlanta GA - Metro Atlanta August 2008 in Review
Atlanta GA - Metro Atlanta July 2008 in Review
Atlanta GA - Metro Atlanta June 2008 in Review
Atlanta GA - Metro Atlanta May 2008 in Review
Atlanta GA - Metro Atlanta April 2008 in Review
Atlanta GA - Metro Atlanta March 2008 in Review
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