Market Report - Henry County GA Foreclosures Outpacing Neighbors

Market Report – Henry County GA Foreclosures Outpacing Neighbors

The Henry County Georgia real estate market was recently known as one of the fasted growing and most sought-after locations for Georgia home buyers. For those still seeking to purchase in Henry County and take advantage of the excellent school district, there may soon be another wave of Henry County short sale and Henry County bank-owned properties up for grabs at an average sale price of $111,202.

The latest Realty Trac report shows that the Henry County real estate market had 2472 foreclosure filings in November 2011. That’s 1 in every 196 houses compared to the national number of 1 in every 579 U. S. housing units that had a foreclosure filing in November. The state of Georgia’s foreclosure activity spiked 23% in that same period, reflecting the 5^th highest foreclosure rate in the nation. And Henry County is among the hardest hit counties within the Atlanta Metro.

These indicators suggest that the Henry County GA real estate market may be in for another big wave of new short sale and foreclosure sale inventory coming available in the near future.

One of the best things about the holiday season is that the pace of Georgia foreclosures tend to slow down this time of year. This year seems to be following suit, and that is a good thing. No one wants to think about neighbors losing their homes during the holidays.

But this slowdown has usually been temporary, with notices going out again early in the new year. This year will be no exception, according to industry predictors. In fact, the latest Realty Trac report projects that a new wave of foreclosures will be rolling onto the market in early 2012 as bank-owned property resales or short sales.