We finally have some good news for the Triangle Real Estate Market! Sales were up 11% over the same period a year ago. Although showings were down 3%, pending sales were up 8 percent. When the federal homebuyer tax credit expired at the end of June last year, sales were down for 6 months but now they seem to be on the rise which is good news as we head into 2012!

There were 19% less homes on the market this November than a year ago. One problem that continues is a lack of qualified buyers.  The average price of homes that sold in November was down 11% from a year ago and the average days on the market for homes that did was up to 129 days from 110 days a year ago. Clearly, it is still a buyer's market.

As we exit 2011, prices still not have rebounded after their huge declines, inventories are still well above normal, and the foreclosure rate is still high but as job gains continue to rise, the real estate market should steadily improve.

The winter months are typically the slowest period of the year however I have a good feeling as we approach the new year. Onward and Upward!

Until then, Masha Halpern & The Smart Move Team wish everyone a Happy and a Healthy 2012!