Summer is hot in more ways than one! Temperatures are rising and the Real Estate market is hot!
The Market Statistics this month are very encouraging for the Triangle and in our office! We have been very busy showing homes, signing contracts, and selling homes.
According to Triangle MLS, Pending sales are up 26.7% from one year ago. Closed sales are up 18.7%. This means that there are serious buyers out there! The Days on Market was down slightly from 121 days to 115 days which means sellers still need to be patient, but the numbers are moving in a positive direction.
The number of 2nd quarter showings for 2012 was 192,529. A year ago, the number of showings was 173,315, that's 19,214 more showings, a 10% increase!
We know that unemployment is a huge factor when buying homes. Unemployment is down from 8.4% to 7.8% in the Triangle area. This means there are jobs being created in Raleigh, Durham and Chapel Hill. Interest rates are still very low which makes housing affordability high. The government has said they will keep interest rates around 4% through mid 2013, which is great news!
Watch this video from Stacey Anfindsen to listen to the latest trends in the Triangle real estate market:
Let's hope these trends continue. If you are interested in buying or selling a home, please contact me so I may be of service to you.