The National Auctioneers Association’s latest data shows the incredible real estate slowing, which previously was the auction industry’s fasting-growing niche. Residential real estate was the organization’s fastest grower–39.2% 2003-06, in terms of sales dollars. However the first half of 2007 shows residential real estate sales up just 0.3% vs. the year-ago period.

Land and agricultural real estate, 2003-06, was next at 33% growth, followed by commercial and industrial property at 27.4%. Again, the 2007 figures are staggering…seeing land and agricultural real estate category down 0.8% in the first half of 2007, while commercial/industrial property was off 0.1%.

The auction industry’s sales average $230 billion annually, with auto’s at the top at 37.8%. (Despite the 2003-06 growth, residential real estate was just 6.3% of that period’s auction industry $230 billion sales.

This entry was posted on Tuesday, November 27th, 2007 at 10:05 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.