Real Estate has been around for as long as anyone can remember. The business is constantly evolving and adapting to the environment. Enjoy some fun facts about Real Estate and Property Management!
- Historians have dated renting back to prehistoric times using cave drawings- it is shown that items and food would be traded for shelter between different nomadic groups.
- Real Estate Investing is increasingly becoming the #1 form of investment around the world.
- The first homes that were recorded as sold were in the late 1800s.
- Roughly 3% of Renters spend more than half of their income on rent.
- In 2018, Property Management Companies accounted for more than $76 billion in revenue, while Real Estate accounted for roughly $178 million.
- America’s most expensive property listed for $1,000,000,000 but only sold for $100,000 at a foreclosure auction.
- The average monthly rent in 2000 was $550 for a 1 bedroom, and in 2021 the national average has risen to $1,410 for 1 bedroom.
- A balcony can increase the value of an apartment by approximately 12%.
- The first open house was not recorded until 1910.
- In 2009, there were more foreclosures than marriages.
- 2x more people in the world buy instead of rent; there are around 75million owned homes, while there are only 44million rented homes in the United States.
- The median home price in 2000 was $164,061 and has risen to $326,883.
- It wasn’t until 1919 when an act was passed requiring a real estate license to perform real estate actions.
- Home repair shows became popular in the 1980s following the end of the housing recession.
- By 2025, it is expected that millennials are to occupy more than 20 million households.
*All information has been pulled from trusted sources. Numbers are subject to change.*
If you are looking to move into Gwinnett County, contact us today and we will help you find the perfect rental home! If you own a home and would like to rent it out in Gwinnett County, reach out to us and we will be glad to assist you in the process!