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Georgia Ranked #24 in United States in House Appreciation for 2007

By Maura Neill

Real Estate Agent with RE/MAX Around Atlanta GA RE License #296541

June 23, 2008 08:38 AM

Georgia Real Estate: It's not all doom and gloom.

That's right! According to a report published by the Office of Federal Housing Enterprise Oversight, Georgia ranked #24 in the United States in residential appreciation for 2007. (Report is in PDF format.)

The 88-page report carries statistics for all 50 states, ranging from four-quarter price change by state (page 27) to reginal appreciation rates (page 28 and 29) to a seasonally-adjusted house price index for the entire country (pages 4 and 5). So if you're not in the mood to read the whole thing or you think it would just put you to sleep, here are the highlights as they apply to Georgia:

Georgia was ranked #24 in "Percent Change in House Prices for the period ending December 31, 2007" Georgia has seen an increase in appreciation over the past 5 years. (page 25)

The Atlanta-Sandy Springs-Marietta area is ranked 151st in the country.

The four-quarter price change for Georgia was a positive number = 2.6% (page 27) based on purchase prices and appraisal valuations.

A look at the report shows that 80% of the United States had POSITIVE appreciation in 2007 (see pages 25 and 26 of the report). And of the over 290 cities reported on, 65% of US cities had appreciation. Where is the mention of this in the national news? Why aren't the positive statistics reported on in order to generate the optimism our country needs at this crucial time? The information is there - we just have to find it for ourselves. This report uses a few different set of statistics to show different aspects of the housing market.

REMEMBER: Real estate news is local, not national. Don't apply everything you hear on the national media to your local area.

Thank you to fellow REALTOR and blogger, Heath Coker, for directing us to this report.

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