According to a report from Metrostudy (www.metrostudy.com), Atlanta’s housing starts dropped 69.6 percent year-over-year in June 2009 as demand continued to decline.Metrostudy believes starts will continue to drop in 2009, in part to many builders still reducing inventory to be in line with the slow demand for homes.
Annual starts in north Atlanta came in at 4,113 for the year ending in June, compared with 13,617 starts for the same period of 2008. Annual closings for north Atlanta totaled 11,146 in June 2009, in comparison to 18,694 the previous June.
For south Atlanta, annual starts totaled 1,992 in June, compared to 6,500 the previous year. Annual closings totaled 5,921 in the second quarter, a drop from 11,343 in the second quarter the prior year.
In a bit of good news, Metro Atlanta’s total housing inventory, which also encompasses finished vacant, under-construction and model homes, has seen a decline of 37.6 percent since the second quarter of 2008.
No comments:
Post a Comment