In this month’s Georgia Association of Realtors magazine there was a nice reprint of RetlyTrac’s statistical information. I thought it was well worth sharing!
- 8 is the Rank of Georgia out of 50 states for foreclosures.10 is the average number of years that it will take for a home’s value to double in Georgia.
34 is the average age of a first time home buyer.
60 is the PERCENTAGE of the average home owner’s wealth that comes from their Georgia Home’s equity.
112 is the percent increase in foreclosures from 2nd quarter 2007 to 2nd quarter 2008
5 is the rank of 2007 in terms of existing home sales
171,000 is the average net worth in dollars of a home owner.
36 The number of times a home owner’s net worth is more than a renter’s (almost). (The average renter’s networth is only $4,800)
I was particularly intrigued to see the networth number. We all have probably sat down and worked those numbers out and I’m as jaded as the next person when it comes to the seemingly astronomical figure that comes out of it (my car does not add to my net worth in my opinion). The fact remains that a home is like a forced savings account and holding real estate long term is a proven piece to your financial success.
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