I was looking at some Atlanta real estate sales charts for Atlanta tonight and I was really surprised when I saw them. I love looking at graphs because they have a way of visually taking the mystery out of things. The numbers no matter which chart I looked at were amazing historically. They stood out like a sore thumb! When you viewed the charts it is so unmistakable that sales peaked (Units sold) about a year and a half prior to the price peak in 2007. The numbers of home sold peaked in the second half of 2005, and late 2006. The peak in Atlanta average sales price for single family detached homes was in June of 2007. Yes less homes were being sold in 2007 but to those with good credit, the prices were sill being bid up. The line chart for 2007 looked like the Matterhorn both in the rise and subsequent fall. It is amazing think what brought us to that point, and what will bring this market back. For more information see our Atlanta real estate statistics page for up to date information on the Atlanta real estate market.
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No money down.
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Easy credit.
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Speculation - flipping.
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No reserves.
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Predatory lending - Poor credit was OK with off the chart ratios.
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Stated income loans.
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Mortgage fraud - appraisals.
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