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February 2013 Triangle Market Update


Triangle Home Sales up 3.2 Percent in February

It's tempting to confuse market normalization with a possible slowdown. But those equipped with high-quality MLS data know better. As mortgage delinquencies fade, banks are listing bargain-priced product less often. That means investor activity – which accounts for a substantial market share – is moderating. That's not to say that rates and prices aren't still attractive to owneroccupant buyers. They most certainly are. Some short-term volatility is expected as part of a normal market readjustment.
 
New Listings in the Triangle region decreased 9.7 percent to 3,244. Pending Sales were down 1.9 percent to 1,960. Inventory levels shrank 7.3 percent to 12,324 units.
 
Prices marched higher. The Median Sales Price increased 6.9 percent to $194,950. Days on Market was down 8.5 percent to 108 days. Absorption rates improved as Months Supply of Inventory was down 23.9 percent to 5.0 months.
 
The economy has more or less shuffled along, despite some climate-induced surprises to job growth and new construction. There is no denying the fact that we've now seen 47 straight months of private job growth, creating 8.5 million new payrolls. There's still work to be done. Thankfully, with such low inventory levels, many builders are bullish on new construction. The spring market is budding, and it should be an interesting one.  (Article from the Triangle MLS Raleigh)

Buying or Selling - Let us on the Sharon Evans Team Help You!


 

Re/Max One Realty- Sharon Evans Team is your source for RaleighCary, Apex, Wake Forest, Holly Springs, RTP and the surrounding areas for real estate. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.  If you are buying it's a great to time buy as interest rates are very low.

In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in Raleigh with my New Listings Notification

 

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

In addition, if you have any general questions about buying or selling real estate in North Carolina, please contact me as I'm more than willing to help.

Please browse my website for listings, reports and important local real estate information.

Sincerely,

Jackie Alluisi
Buyer Specialist

Re/Max One Realty

Sharon Evans Team

919-624-1631

 


Contact Jackie

Jackie Alluisi
919-624-1631(Office)
919-624-1631(Business)
919-624-1631(Cell)
919-782-7986(Fax)

Raleigh, North Carolina

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