Foreclosures: Nationally and Locally
Here is the latest report from RealtyTrac on the percentage of all home sales that are foreclosure sales. It reflects, by state, the percentage of sales for the 2nd quarter of 2011. The state of Georgia is right up there with an average of 38%. Woefully far from the 4% number in Nebraska (those lucky Cornhuskers!) but a little too close to the 65% number in Nevada. Just up a little from the national average of 31%
So What Does That Mean?
Besides the fact that nobody want’s to live in Nebraska and too many people wanted to live in Nevada; it’s an interesting statistic but that’s all it is. These numbers nationally have actually been going down (slowly) but they aren’t meaningful to a family in Alpharetta or Milton selling their home. It just means the nation still has a ways to go.
More importantly, what are the percentages of North Fulton or Alpharetta home sales that are foreclosures? I pulled those percentages three ways:
North Fulton West – 12%
North Fulton East - 10%
Alpharetta/Milton - 13%
Those foreclosure sales are less than half of Georgia’s 38%. By the way, the number for 2nd quarter in Metro Atlanta is 18% . So when you hear these national numbers take them with a grain of salt and then find out what that picture looks like locally. And if you need help figuring that picture out, let us know – we have the local numbers and we’re here to help.
