Sep 15

Real Estate Facts & Stats

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.

Tags: , ,

About Brad Nix

Brad is the managing broker and co-owner of Maxsell Real Estate and co-founder of REtechSouth. He is also an accomplished commercial agent in the North Atlanta real estate market. Brad also serves as the Vice President for the Cherokee Association of Realtors and as Director for Security Bank of North Metro. Brad enjoys real estate, technology, good music, nice people and dark beer.
View all posts by Brad Nix →