Real Estate Drives Auction Industry Growth in 2006

OVERLAND PARK, Kan. – The National Auctioneers Association (NAA) reports extensive growth for the auction industry in 2006 with a 7.1 percent increase over 2005 in gross revenue, translating into $257.2 billion in total revenue generated. The most significant growth was seen in residential real estate, which grew by 12.5 percent in 2006, generating $16 billion. Last year, residential real estate auctions generated $14.2 billion. Residential real estate auctions are the fastest growing sector of the industry and are increasingly being accepted as mainstream with the general public. Click Here for the Full Story