Metro Atlanta Real Estate - Blog What is the outlook for Atlanta Real Estate? June 3rd, 2008 9:48 AM Slow-motion sales in many housing markets have folks struggling for survival. Add the subprime crisis and talk of a recession, and you can expect another rough year for residential real estate. By Lori Johnston, Bankrate.com How bad is it? "There's not a market that's immune at this point," says Chris Porter, manager with John Burns Real Estate Consulting. Atlanta    Hotlanta was less steamy when it came to housing starts last year, with permit activity falling to mid-1990s levels and expected to continue to decline in 2008, says Chris Porter of John Burns Real Estate Consulting. Meanwhile, an increase in foreclosures made it No. 11 in the country, according to RealtyTrac. Atlanta didn't experience the sharp price increase in the resale market that other Southern cities faced, so only modest decreases are expected in the median price over the next three years, Porter says. But he adds that an expected slowdown in the solid job growth the city has experienced over the past several years will create less demand for housing.    Median price end of 2007:  $164,300 Median price end of 2006:  $166,800 Percent change: - 1.5 %  Projected change through Q3 2008: - 0.1 %  Affordability rating: 2.6 Foreclosures in 2007: (1 for every 40 households) 50,271 Foreclosures in 2006: (1 for every 60 households) 33,018 Change in foreclosures: + 52.3%          Panel of experts • Ken Fears, National Association of Realtors. • Bernard Markstein, senior economist and director of forecasting, National Association of Home Builders. • David Stiff, chief economist, Fiserv Lending Solutions. • Chris Porter, manager, John Burns Real Estate Consulting. • Ingo Winzer, president, Local Market Monitor.           Posted by Alan Andrew on June 3rd, 2008 9:48 AMPost a Comment (0) * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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