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Living outside of Atlanta, you would never believe there is the risk that the new housing market could be in danger. Communities Magazine lists over 1200 subdivisions, townhouse and condominium units in production in the greater metro area. Now, we all know that Atlanta is a target city for relocations. It also has had a stable and modest property appreciation.

That is why I got nervous seeing the national picture over at Business Weeks Hot Property Blog. The inventory of unsold new homes doesn’t look too scary when you view it the conventional way, namely, in proportion to the rate of new-home sales. In November, the inventory added up to 4.9 months’ worth of new-home sales, vs. 4.3 months’ worth one year earlier.
But the inventory looks scarier when you look at the actual number of unsold homes–503,000, seasonally adjusted, in November. That’s up from around 350,000 in the early 1990s, the last time there was a glut.Peter Coy, Hot Property.

If the national projections start showing up in the Atlanta marketplace, we may see some severe carnage. I am going to do some digging and see what the numbers in Atlanta are showing and let you know what the reality is.

My guess, since many of the builders here are the large nationals, you will see price stability (trying to make up lost revenue in other parts of the country) till they panic, and then it could get ugly quickly.

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