Friday Five: The largest adjustments from Q2 2009 to Q2 2010

By: Brad Horner

As we mentioned earlier this week, NRT Development Advisors recently released its Q2 2010 Development Advisor, a quarterly view of metro-Atlanta’s real estate market (including absorption, current inventory, sales price, distressed sales, consumer sentiment and more).

In that blog post, we teased you with an overview of the findings.  But in today’s Friday Five I wanted to take the opportunity to highlight five specific stats that demonstrate the largest adjustments in the metro-Atlanta market from Q2 2009 to Q2 2010.

So, without further ado, below is today’s Friday Five:

1. Inventory: Inventory of new construction condominiums/townhomes fell 31.1%; inventory of resale single-family homes increased 62.7%.
2. Absorption: Absorption of resale single-family homes increased 27.6%, but absorption of new construction single-family homes decreased 16%.
3. Sales price: The average sales price of new construction single-family homes dropped 11.6%, while the average sales price of resale single-family homes increased 12.4%.
4. Distressed Sales: Absorption (closed units) of distressed* new construction single-family homes dropped 16.9%, however absorption (closed units) of distressed* resale single-family homes increased 14.4%.
5. Distressed Sales: Absorption (closed units) of distressed* resale single-family homes increased 14.4%, while absorption (closed units) of distressed* resale condominiums/townhomes decreased 9%.

* Distressed sales include foreclosures, corporate-owned, lender-owned, and short sale pre-approved listings.