Recently, the Georgia Association of Realtors magazine published statistics from RealtyTrac and the 2008 NAR Member Profile, here is a summary of the findings:
- Georgia ranks 8 out of 50 states for foreclosures.
- Your home will double in value on average every 10 years.
(I have hard time believing this one, but that’s what it says) - The average age of a first time home buyer is 34.
- The average home owner’s wealth that comes from their Home’s equity is 60% of net worth.
- Foreclosures increased 112% from 2nd quarter 2007 to 2nd quarter 2008.
- 2007 was the fifth best year on record for existing home sales.
- The average net worth of a home owner is $171,000 vs $4,800 for renters.
If you are considering becoming a part of these statistics, not the foreclosure stat, then contact us today for specific market reports about the North Atlanta Real Estate Market.
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